Economy

New industrial town to give economic boost

By Andrea Deng (China Daily)
Updated: 2010-09-09 11:07

The exhibition area of Liaoning province in the exhibition center of the China International Fair for Investment and Trade in Xiamen showcases its strategies to develop its capital city of Shenyang. [Wang Jing / China Daily]

 

Xiamen - As a cradle of China's heavy industry, Shenyang is planning to build a new industrial town that offers a buttress for various industries.

The new town, in Tiexi district occupying part of Shenyang's Economic and Technological Development Area, encompasses an area of 205 sq km, and aims to bolster up three major industries including manufacturing machine tools, electric facilities and modern architecture.

"Since 2002, Shenyang has been continuously restructuring its industrial base, which has a long history, and has earned enough valuable experience to serve as a model for development," said Hu Jianyang, deputy general director of the Liaoning Provincial Development and Reform Commission.

With the government's support to develop the manufacturing industry in Tiexi district, the plan is targeting an output of 100 billion yuan ($14.7 billion) in machine tools before 2020, and is aiming to make the new town one of the world's most competitive research, development and trading hubs for machine tools. An output of 100 billion yuan is also expected for electric facilities, and 300 billion yuan for modern architecture.

The three industries are building a substantial groundwork for any manufacturing industry, not just in China, but worldwide.

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China's developed transportation system and abundant energy supply are able to ensure the steady operation of development, with the advantage of low costs in raw materials, factories and workforce, adding to the potential of the new town. The area also supplies supporting facilities such as education, housing and a scientific research center.

Meanwhile, the area boasts several universities and technical institutes, which continue to offer human resources to further develop Shenyang's industries.

Tiexi district has already attracted many of the world's top companies including Michelin and BMW, among others, for investment.