Maanshan looking to diversify economic base with HK input
Maanshan, a city in Anhui province known for iron and steel production, is seeking to upgrade its industrial structure by introducing more high-technology, modern agricultural and other service industries.
A trade delegation from Maanshan was in Hong Kong yesterday to attract investment for 42 projects worth a total of US$5.6 billion.
The projects cover sectors such as tourism, software engineering, vehicle manufacturing, food handling, ecological agriculture, logistics and infrastructure.
The city's party secretary, Zheng Weiwen, said many Hong Kong enterprises, including K Wah Group, had shown interest in some of the projects.
An eastern gateway of Anhui and part of the Yangtze River Delta region, the city was established in the 1950s after its location was identified as one of the seven biggest iron mining zones in the country.
Heavy industry amounts to more than two-thirds of the city's gross domestic product.
Maanshan Iron & Steel, one of the country's largest producers, is listed in both Hong Kong and Shanghai.
'Heavy industry has taken a relatively high proportion in our economy, and we are now making efforts to adjust our industry structure to a more balanced model,' said Zheng, welcoming Hong Kong enterprises to invest in the city's bio-pharmaceutical products, tourism industry, software development, commerce and infrastructure.
In an effort to change Maanshan's image as a heavy industrial city, the municipal government has taken a series of environmental measures in recent years to increase greenery, curb pollution and get rid of unqualified furnaces.
So far, nearly 60 Hong Kong enterprises have set up branches in Maanshan, with 24 of them having invested more than US$10 million.
It is estimated that Maanshan's gross domestic product will reach 65 billion yuan (HK$73.75 billion) by next month, with an income per capita of about 10,000 yuan.
