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Huizhou, new big magnet of Guangdong to investors
Latest Updated by 2007-04-12 17:56:25
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On Oct 31, 2002, Shell announced to locate its largest single investment to date in Huizhou. On Mar 30, 2006, this Shell-CNOOC joint project, a giant petrochemical plant, started operation.

These were the days many Huizhou people will remember as the beginning of the city's fast development, or "golden days" in their words.

Huizhou now has developed petrochemicals and digital product manufacturing as its two core industries.

The success of Shell, Bridgestone, Marubeni's projects in Huizhou has convinced more and more foreign investors to consider Huizhou for their future moves.

On April 12, Huizhou holds its annual investment promotion fair in its city center, over 160 contracts are signed, involving over 100 billion RMB. The city saw many new investors, including Japanese retailer Jusco and European chain hotel Ibis.

These projects include digital and electronic products manufacturing, chemicals, agricultures, infrastructures, industrial parks, logistics centers and hotels.

Besides, the city also take the chance to promote hundreds of new projects to the over 1,000 guests from home and abroad attending the investment gala today.

Industrial Transfer

Huizhou, neighboring Shenzhen and Dongguan, is now receiving industries, such as machinery, chemistry, bio science, food processing, electronics and garments, transferred from the two cities. On the fair, three industrial parts for the transferred industry have their foundation stones laid. Besides, the city also opens its arms to foreign industries. In May, the city will hold an investment promotion event in Italy. Source reveals, tens of Italian enterprises had already showed their interest in this south China rising city.

Tertiary Industry

Tertiary industry has become a big magnet of the city to investors. Among the contracted 100 billion RMB, over 70 percent goes to trading, logistics, tourism, hotel, real estate and service industries.
Over half of the top ten real estate labels had entered Huizhou market.

City's blue print

Huang Yebin, Secretary of Huizhou Municipal CPC Committee, said to the press days before that the government's strategies will focus on local residents' interests, development of industry, culture, innovation and legal system as well as environment promotion.

Huizhou has set a bond target for the next five years: by 2010, the city will double its industrial output of 2006 to hit 180 billion RMB! This means the city needs to maintain a 15 percent economic growth in the next half decade.

It is estimated that in the future 5-10 years, Huizhou will received 180 billion RMB investment for its petrochemical industry. The industry will be the leading force of the city's economic development.

Talking about 2007, Li Ruqiu, city mayor, said that 2007 is the city's "Year of Investment Promotion" and was proud to tell that according to Chinese Academy of Science, Huizhou is the second runner-up city in China measured by market competitiveness and openness.

Editor: Yan

By: Zhang Ying Source:
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