Foshan: Strategy for full ‘industrial chains’
Bid to consolidate, enhance city’s manufacturing sector
Foshan will continue to push forward its strategy to develop complete industry chains and build the city into a crucial manufacturing hub in Guangdong province and even in all of South China, said local authorities.
“We’ve made a very satisfactory start,” Zhou Zhitong, director-general of the Foshan Foreign Trade and Economic Cooperation Bureau, said in a recent interview. “We will continue to seek investment for industrial chain development.”
Foshan began to implement its new three-year investment promotion strategy in 2012, attaching high importance to potential investors to help build, supplement and consolidate the city’s industries.
The industrial chains cover such growth industries as new-generation information technology, new energy and biomedicines, semi-conductor lighting, flat panel displays, automobiles, equipment manufacturing, household appliances and new materials.
The city attracted 23 large investment projects that are expected to help implement the strategy in 2012. Another 71 projects were signed to supplement its existing industrial chains and 97 projects will consolidate existing industries, according to the bureau.
Its latest statistics show that the city has secured 31 foreignfunded projects with investment surpassing $10 million each in the past 10 months. Their total capital invested reached $2.56 billion.
At the same time the city attracted 19 domestic-funded projects, each with investment exceeding 50 million yuan. Their total investment was 17.54 billion yuan.
The big projects are mostly related to IT, biomedicines and new materials, as well as auto and equipment manufacturing, food and beverages.
“The projects are giving a powerful boost to the upgrade of Foshan’s traditional industries, and on the other hand are helping the city’s emerging industries grow,” said the official.
“We will keep a closer eye on possible projects related to our new industrial chains that cover such growth industries as flat-panel displays, automobiles, LED lighting, IT, biomedicines, advanced equipment manufacturing, new materials and modern services,” Zhou added.
The new industrial chains are expected to take shape initially by 2015 and become the city’s new pillar industries in 10 years.
The strategy fits well in Foshan’s plan to develop into a leading hub for manufacturing and modern services in the province by 2015, the official said.
The city’s industrial output value is predicted to reach 3 trillion yuan by 2015, according to Zhou.