High-tech zone invests heavily in 8 vital, large-scale projects

Administration launches next level of construction, spurred by Belt and Road Initiative, Li You reports.

Xi'an Hi-tech Industries Development Zone is one of the first national high-tech zones the State Council approved. After receiving approval in 1991, the zone has evolved to be one of the most centralized and dynamic industrial areas in the city of Xi'an, Shaanxi province, and in Northwest China, according to the zone's communications department.

Experts identify Xi'an as a major city on the Silk Road Economic Belt. Leveraging its geographic advantages, the zone can strengthen the city's scientific and innovation power and promote social development across Shaanxi province.

At present, the zone has entered a new phase of construction. To achieve the desired development breakthroughs, the key task is to seize opportunities, said Li Yi, Party committee secretary of the high-tech zone.

Last year, enterprises in the zone accomplished total sales revenue of 1.37 trillion yuan ($198.60 billion). The zone's GDP rose 11.9 percent year-on-year, 3.4 percent points higher than the city's average.

Fixed assets investment reached 78.3 billion yuan, accounting for 15.1 percent of Xi'an's total. The zone's total export and import volume reached 151.8 billion yuan, accounting for 83 percent of the city's overall figure.

To give full play to the industrial clusters, the zone's administrative department pledged to promote eight projects, each billions of yuan in scale, offering beneficial policies to boost innovation and entrepreneurship in the area.

First, the zone has set up a strategic fund of 10 billion yuan to support innovative industries.

The administrative department in the zone has accelerated resource integration and high-end project incubation. To make the best use of specialized industrial funds, the zone has established more than 20 funds under the categories of innovation, industrial cultivation and scientific professionals, which have attracted investment of more than 100 billion yuan.

The second large-scale project is the creation of a civil and military integration industrial base, which gathered more than 200 key laboratories, engineering and tech centers in various fields and 120 domestic and foreign research and development centers from well-known enterprises.

Through years of cultivation, the base has evolved into a systematic innovative center that puts full emphasis on enterprises, supported by science and technology service platforms and driven by development in science and technology finance.

Jay L. Hawkins, vice-president of global operations of Micron Technology Inc, said: "I am very confident that Xi'an high-tech zone will have a promising future in development for its investment environment, industry advantages and gathering effect, and especially for its flexible and open mechanisms."

The administrative department has designated finance as the core sector of the zone's development.

The financial base in the zone has gathered all kinds of financial services institutions and a number of service platforms, with 1,272 in total currently.

Financial regulatory agencies such as the Xi'an branch of The People's Bank of China and the Shaanxi banking regulatory commission have settled down in the zone. Other financial institutions, ranging from banks, insurance companies, trusts and auto finance companies, have opened their regional centers or branches there.

The next stage will see the zone establish its headquarters and financial base project and construct its financial landmark area, fully utilizing the advantage of its technology, talent and financial markets.

To boost startup innovation within the zone, it will also upgrade its innovation platforms.

The zone will attribute 3 million square meters of floor space to high-standard factories and research bases, to introduce world-leading incubator management enterprises, which will enrich its incubator management system.

The total area for the factories and bases, along with other platforms for business startups, is expected to exceed 10 million sq m.

In the next large-scale project, the zone will pay more attention to people. It will design several featured towns, communities where prestigious scientists and industry leaders and teams can settle and live.

The remaining three projects are all related to lifestyle. The administration is making steady progress in areas ranging from education, healthcare, transportation and elderly care to cultural platforms such as museums, music halls and libraries, as well as public security and the environment.