Core, energetic area reaches out to innovation startups
Siming district, the core district of Xiamen, Fujian province, received a major boost to its promotion of innovation startups and expansion of new space for business development conducted in recent years.
Holding the BRICS Xiamen Summit in September showcased the energy, innovation, opening-up and cultural charm of Siming district, and officials said it also crucially brought about more business opportunities.
According to official statistics, the district’s GDP in the first half of the year reached 55.58 billion yuan ($8.37 billion), an increase of 7.2 percent.
In order to create premium space for public innovation, Siming district has put together evaluation criteria, so as to assess the levels of innovation space.
The district government said it will provide rent subsidies, construction allowances and operational subsidies for certified spaces, and set up a district startup investment fund. This is designed to encourage social capital to launch equity investments, angel investments, risk investments and various kinds of innovation funds.
The government is also trying to encourage innovation competitions to be held, to create a dynamic business environment conducive to positive change and new business development.
To date, Siming has nearly 100 spaces allocated throughout the district by various tiers of government for business innovation activities.
As a result of the initiatives, some 1,000 startup teams and 10,000 entrepreneurs have been drawn to Siming, with more than 300 successful business startups attracting 600 million yuan in investment.
Businessmen and entrepreneurs say the healthy entrepreneurial environment has created a solid foundation for enterprises in Siming district, attracting more young people to start their business there.
Li Jinkun, president of Xiamen Rongkun Group, came to the city in 1984 with less than 10 yuan.
After observing and studying many shopping malls locally and abroad, Li launched his first commercial real estate project — China Town — in Siming district in 2004.
The construction of China Town encountered many problems at first. But thanks to government support and Siming’s good entrepreneurial environment, the mall benefited from comprehensive planning and a clear positioning, he said.
“China Town is so lucky to be located in Siming, where private companies have an open and sharing market,” said Li Li, executive director and general manager of the company.
“For me, a business is not only about passion, but also about improving the ability to accumulate and integrate resources,” Li added.
Powerlong Group recently invested 4 billion yuan in Siming district to build a commercial zone with an area of 400,000 square meters.
The commercial zone has a premium quality hotel, a gallery and specialty shops for high-end products.
Cai Erchao, executive director of the group, said that although conventional shopping malls had been impacted by e-commerce and online shops, there was still room for brick-and-mortar businesses that provide great experiences and convenience for customers.
Yan Zhuming, founder and president Xiamen Swiss Grand Hotel, found that the biggest challenge for him was to build and promote a new brand.
“The solution is to ensure the quality of services is provided in a consistent way and is upgraded continually.
“Enterprises will develop well in a good business environment, such as Siming district. District officials often visit companies and solve problems for us,” Yan added.
A big fan of Siming is Tu Junyin, founder of Heyi Confinement Center, which provides confinement services for mothers who give birth according to Chinese traditional customs.
A mom of an 8-year-old girl, Tu thinks motherhood is the greatest and hardest job in the world.
After visiting her friend’s confinement center in Taiwan 2012, Tu opened hers in Siming in 2015.
“Siming, as the heartland of Xiamen, has a good development background, especially in the services industry,” she said.
“I hope to provide a comfortable environment and professional nursing for mothers. In the future, we will expand our service to the maternal and infant care industry,” Tu added.