Fuzhou New District already on the radar of foreign investors

Fuzhou, capital of Fujian province, will become considerably more attractive to foreign investors as a result of its new national development area, a top government official said on Thursday.

"A lot of Fortune 500 companies have already been on fact-finding trips to Fuzhou in the hope of setting up regional headquarters in the Fuzhou New District," said Chen Jipeng, Party chief of the Fuzhou Development and Reform Commission, at the launch of the new area.

National New Districts are specially designated regions for technological and industrial development in the Chinese mainland. They enjoy preferential policies to attract investment and experimental economic practices.

Fuzhou is the 14th to be created since Pudong New District opened in Shanghai in 1993. It covers 800 square kilometers and incorporates the Fujian Pilot Free Trade Zone, which was formally established in April.

"As a large country, China needs places in which to pilot reform measures that can be applied to the rest of the country," said Chen.

"The creation of Fuzhou New District means the area has become part of this national strategic development program. It will attract more businesses with its transparent policies and solid infrastructure."

He said it has had foreign companies involved in advanced manufacturing, biological medicine and electronics, particularly, making inquiries into setting up in the new district.

Air Liquide SA, a French multinational company which supplies industrial gases and services to various industries, has already signed an agreement with the Fuzhou authorities and is currently setting up operations there.

According to the National Development and Reform Commission, one of Fuzhou New District's priorities is to enhance economic exchanges with Taiwan.

"As it is so near to Taiwan, Fuzhou has always been an important base for cross-Straits economic exchanges, said Chen Yuanbang, deputy Party chief of Fuzhou.

"The new district's development relies heavily on Taiwan businessmen whose ancestral home is in Fujian. The district will offer them a lot of opportunities."

It is expected that investment from Taiwan in the new district will mainly be in high-end services, industrial design, education, advanced manufacturing, urban agriculture, and electronics.

"There is strong interest too in healthcare," said Chen Jipeng. "Many Taiwan companies were making inquiries about investing in residential and maternity hospitals in Fuzhou."