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Changchun: hi-tech fuels robust growth


Post Date: 02 Sep 2009    Viewed: 670

Despite the severe economic crisis that swept the globe in 2008, the Changchun National Hi-tech Industry Area continued to generate a robust growth of 36.5 billion yuan in gross domestic product, an increase of nearly 20 percent over 2007.


Total 2008 fixed asset investment in the zone was also up sharply, to 22.6 billion yuan, a 35.3 percent increase over the previous year.


The dynamic economy has been driven by its business-friendly environment, strength in research and development and a cluster of cutting-edge local hi-tech companies.


Since its founding in 1991, the first national development area in northeast China's Jilin province has grown to include 11 State-level industrial parks and zones for sectors including automobiles, auto parts, biomedicine, software, optoelectronics, information technology, new materials and clean energy.


More than 2,000 companies have now established facilities in the area, including 160 in the auto and auto parts sectors and about 110 in biomedicine.


The number of software companies in the area now exceeds 300, accounting for more than 80 percent of the provincial total.


Highly trained human resources are one of key factors that have drawn the investors to the area, which has 14 universities, 39 research institutions, two national engineering research centers and 14 national post-doctorate workstations.


Collaboration with schools and institutions has laid a solid foundation for sustained growth, with nearly 870 of the area's technological research projects now commercialized and put into mass production.


Intermediaries in asset assessment, accounting, auditing, planning, intellectual property, venture capital, legal services, inspection, consultancy and certification play an important role in helping research projects leap from labs to industrialization.


The area's authorities have cooperated with the State Intellectual Property Office to jointly establish an information center with an online database of more than 7 million entries on healthcare and medicine from home and abroad, including 23,000 patents and nearly 40,000 formulas in traditional Chinese medicine.


Another example is the province's first venture capital fund - Changchun S&T Venture Capital Co Ltd - established in 2004 specifically for scientific and technological projects.


The fund has selected more than 910 projects for potential follow-on investment and provided 510 million yuan for some 90 projects.


Over the past three years, the authorities have received more than 1,700 patent applications from the area, accounting for more than a half of the total applications of Changchun, capital of the province and where the zone is situated.


Recognizing the significance of preserving intellectual property rights (IPRs), about 80 percent of the hi-tech companies, research institutions and universities in the area have set up their own IPR management organizations.


The established IPR atmosphere has in turn encouraged investment in and development of proprietary technologies, innovations from which are found in more than 60 percent of the area's hi-tech products.


In addition to driving growth of local hi-tech industries, the area has also become a bridgehead for foreign cooperation.


Last year saw a total of $594 million in overseas investment in the area, an increase of 16.4 percent over 2007.


The area has attracted more than 560 foreign-funded companies, including 18 Fortune 500 firms, and established cooperative ties with 32 countries and regions.


About 85 percent of the city's hi-tech exports are from the area, which is now also listed as a national hi-tech product export base.


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