Hangzhou special: G20 Summit set to shine spotlight on innovative development area

The Hangzhou Economic and Technological Development Area, also known as HEDA, will be the perfect destination for global leaders who want to learn the reasons behind China's rapid economic growth and innovation prowess during the G20 Leader Summit, which will open on Sept 4.

"Hangzhou, a popular international conference destination, is also a model for global cooperation. HEDA boasts a premium business environment for innovation-driven companies and startups. We encourage global businesses to come and seize the opportunities HEDA offers," said Wang Xinjun, director of the area's commerce bureau.

The national-level development area, which was established in 1993, is the only area in China that planned industrial parks, export processing zones, higher education bases and residential areas in the same region.

More than 800 foreign businesses from over 40 countries and regions have established offices in the area. It is home to 69 Fortune 500-listed companies including Coca-Cola and Bosch.

The area plans to focus on developing pillar industries, including advanced equipment manufacturing, new energy and new materials, biotechnology, modern food processing, new generation information technology and electronic information.

HEDA has attracted many leading service providers including Zhejiang Cainiao Supply Chain Management Co and Meorient International Exhibition Co Ltd.

Industrial support

Businesses can expect premium services through the support of six functional industrial parks and business service platforms in HEDA.

The six functional areas include the Hangzhou East High-Tech Industrial Zone, Singapore (Hangzhou) Science & Technology Park, Jinshahu Business Zone and Cross-border E-commerce Industrial Park.

The Hangzhou East High-Tech Industrial Zone is a gathering place for advanced equipment manufacturing, electronic information, new materials and energy and advanced information technology businesses.

The Singapore (Hangzhou) Science & Technology Park serves advanced information technology companies, technological service companies, emerging service companies and service outsourcing businesses.

The Jinshahu Business Zone is planned to be a base for companies' headquarters as well as a financial services base for enterprises, according to the zone's operators.

China's e-commerce sector was born in Hangzhou and it has become a world leader in the current global climate of sluggish growth.

The Cross-border E-commerce Industrial Park, which was launched in 2014, has attracted 218 foreign online service providers to launch businesses on its platform.

The G20 meeting is expected to provide government leaders with an ideal opportunity to inspect the zone and learn some of the secrets to China's success.

Leading e-commerce business operators including tmall.hk, Suning.com and kaola.com have launched businesses in the zone. The park's operators plan to attract more modern logistic companies, warehouse service companies and leading online business operators to the area.

There is a national-level business incubator and a technology business accelerator in the economic zone, which can provide support to companies. The incubator will provide services to companies in sectors such as electronic information, bio-science and the internet of things. The accelerator was established to serve small-and-medium technology companies.

Preferential policies

Companies that meet certain criteria will be eligible for a variety of subsidies such as rental, land leasing, research and development, startup supporting, talent supporting, stock market listing and some other special granted subsidies.

The economic area has established a support fund for innovation-driven companies that can provide up to 600 million yuan ($90.3 million) in financial aid.

HEDA strives to enhance service quality so companies can concentrate on their business operations. The area has set up an administrative and service system so most business-related problems can be solved in the park.

Ideal location

HEDA is connected to major cities by seven expressways, an international airport and railway station.

It is 7 kilometers from Hangzhou East Railway Station and 15 kilometers from Xiaoshan International Airport.

The airport is one of China's busiest in terms of passenger numbers, with 3,600 flights departing and arriving every week.

tangzhihao@chinadaily.com.cn