The Advanced Business Park (ABP) in southwestern Beijing will soon have a new branch in Shenyang, capital of Northeast China's Liaoning province.

Xu Weiping, ABP board chairman, said construction has already begun on the 20 billion yuan, 466 hectare Shenyang park.

"The success of the Beijing ABP within only seven years can be attributed to the fact that it hosts State owned and private enterprise headquarters," he said.

Currently, 400 businesses have regional or national headquarters in the 400-hecatare park.

"The new ABP in Shenyang is expected to attract 2,000 companies from Northeast China - the nation's traditional industrial base and leading equipment manufacturer," said Xu.

From 2004 to 2005, nearly 10 central SOEs raised eyebrows by moving to Beijing's ABP. Their decision lured more private firms based outside Beijing to establish regional or national headquarters there.

Xia Xiaoou, Party secretary of Beijing General Research Institute of Mining and Metallurgy, a central SOE, said his organization has recently moved its headquarters, major research arms and two of its stockholding firms to the park.

"We owe our move to the park's concentration of leading SOEs, its excellent cultural and human resources and its great business opportunities," he said.

Wang Min, Party secretary of Liaoning, noted the province has undergone a major campaign to transform its economic growth model and adjust industrial structures.

Given this, researchers at a recent headquarters economy forum speculated that some of Northeast China's enterprises - including SOEs based outside Shenyang - might consider moving their headquarters to the new park in a bid to boost business.

Wang predicted that the latest ABP would drive economic growth in Shenyang and Liaoning.

The park in Beijing now covers 400 hectares and is expected to be expanded.

ABP officials signed a deal with Qingdao city government last month to open a 160 hectare park in the city of Shandong province.

China Daily

(China Daily 10/12/2010 page15)