Technology fuels growth

PUBLISHED : Wednesday, 18 July, 2012, 12:00am
UPDATED : Wednesday, 18 July, 2012, 12:00am


The Hangzhou Economic and Technological Development Area (HEDA) has fuelled the city's economic growth for two decades.

Last year, 1,137 enterprises were set up, bringing in additional capital of 2.095 billion yuan (HK$2.556 billion), up 12.9 per cent from 2010.

Although trade remained sluggish, HEDA's administration office reports continued growth this year in income, sales of consumer goods and fixed investment. For the past three years, HEDA has ranked in the top 10 of all state-level economic and technological development zones, and has ranked No 1 in Zhejiang province.

HEDA is the only state-level development zone to include industrial parks, export processing zones, a higher-education zone and an ecological auxiliary city.

The four key industries are information technology, biomedicine, equipment manufacturing and food and beverage.

HEDA also strives to develop new energies and materials along with modern logistics and financial services. HEDA hosts more than 60 Fortune 500 companies and more than 700 ventures in total. More than 300 are hi-tech with more than 100 research and development centres.

Last year, total industrial output topped 150 billion yuan.

Among global leaders in equipment manufacturing, HEDA counts Siemens, Panasonic, Mitsubishi, Bosch and Kobelco as residents, while Toshiba, Foxconn. Motorola and LG round out the information technology sector.

In the food and beverage industry, clients include Coca-Cola, Pepsi Cola and Hangzhou Wahaha.

HEDA also strives to be a biomedicine base, focusing on biopharmaceutical industries and Chinese patent medicines. Merck Sharp and Dohme are among its long-time clients, and AMO and ABON Biopharm.