BUSINESS Shanxi demonstration zone to boost high-tech industry clusters, local economy

BUSINESS

Shanxi demonstration zone to boost high-tech industry clusters, local economy

By Liu Yukun and Sun Ruisheng in Taiyuan | China Daily

10:46, July 19, 2020

The Shanxi Transition and Comprehensive Reform Demonstration Zone is stepping up efforts to bolster the business environment to facilitate the development of high-technology industry clusters, amid its joint efforts to create a new powerhouse to boost the local economy.

The administrative center of Shanxi Transition and Comprehensive Reform Demonstration Zone covers a wide area. [Photo provided to chinadaily.com.cn]

Formed by eight research industrial parks in North China's Taiyuan, the Shanxi Transition and Comprehensive Reform Demonstration Zone has shortened administrative procedures for businesses to clear the way for more efficient operations.

The zone also launched subsidies valued at 613 million yuan ($87.7 million) for various companies to support their development.

Yang Xia, chairman of Shanxi Jinbo Bio-Pharmaceutical Co Ltd, said the company enjoyed free rent and good infrastructure, which is helpful for the company's development in its early stage.

"For companies in emerging industries, like Jinbo Bio-Pharmaceutical, the zone is open to roll out supportive measure to promote their development. We also encourage them to cooperate with China's leading research institute for further development,” said Dong Liang, deputy director of Shanxi Transition and Comprehensive Reform Demonstration Zone Management Committee.

"The zone also launched a series measures, including helping enhance infrastructure and improving the business environment, to attract more new businesses in the emerging sector,” Dong said.

To date, the Shanxi Transition and Comprehensive Reform Demonstration Zone has invited over 20 high-end research institutes and universities, including Tsinghua University and 902 high technology, accounting for about 36 percent of the province's total, to join or set up branches in the zone.

The zone has formed industry clusters and prioritized its supportive measures in several fields, including bio-pharmaceutical, semi-conductor, new materials and many other areas, according zone officials.

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