New SOE park gives Northeast an anchor
Shenyang -A dozen State-owned enterprises signed agreements on May 18 to move into the Northeastern Advanced Business Park (ABP) in Shenyang, capital of China's Liaoning province.
The new ABP in Shenyang, a branch of Beijing-headquartered ABP, has attracted its first batch of 56 companies, nearly 20 percent of them State-owned enterprises.
Its new residents are engaged in fields ranging from machinery and railway manufacturing to electronics, architecture, steel, logistics, agriculture, creative businesses and technology.
Construction began on the western portion of the park last July. It will have 500 headquarter buildings by the end of 2013, when Shenyang will host the National Games, China's sports gala, Xu Weiping, ABP board chairman said at the signing ceremony.
Built at a cost of 20 billion yuan ($3.08 billion), the western park covering 5 million square meters is expected to attract 2,000 companies from Northeast China - the nation's traditional industrial center and leading heavy equipment producer. Xu attributed the success of the Beijing ABP to its mix of State-owned and private enterprise headquarters.
Currently, 400 businesses have national or regional headquarters in the 400-hectare Beijing park.
In 2004 and 2005, some 10 SOEs moved their headquarters to the Beijing ABP, which then attracted private firms based outside Beijing to establish headquarters.
"We want to do as well in Shenyang as we have in Beijing," Xu said.
"The ABP in Northeast China expects to provide companies with an ideal environment, combining resources and information with an efficient business atmosphere, as well as more opportunities," he added.
"In addition to quality buildings, we will also build a headquarters culture to assist information and capital operations at companies."
Jiao Yutian, president of the Liaoning provincial branch of the Postal Savings Bank of China, said: "it is ABP's systematic management, enticing environment, completed infrastructure and convenient services that prompted us to move in."
Gu Chunming, first deputy-mayor of Shenyang, said that Liaoning is undergoing a major transformation to adjust industrial structure and rejuvenate traditional industries, so the ABP park will become a high-end home for noted enterprises from home and abroad that will drive economic growth in the city and even province-wide.
Industry insiders also acknowledged the major role the park will play in the near future to help Shenyang and Northeast China attract more talent, create jobs, and improve communication and technologies.
(China Daily 05/24/2011 page15)
