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Hi-tech zone has lesson to teach

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Josephine Ma

A brief and standard tour of Chengdu national high-technology zone has become a source of inspiration for Richard Li Tzar-kai, chief executive of Pacific Century CyberWorks, particularly when he compared it with his brainchild, the Cyber-Port.

After an hour's tour of the hi-tech zone, Mr Li said he was concerned that the Cyber-Port might not be attractive enough to foreign investors unless more incentives were offered.

Although the zone was unlikely to be a direct rival of Cyper-Port, Mr Li was concerned about Cyber-Port's competitiveness.

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'They have an extensive package of incentives. For example, new companies enjoy exemptions in land lease and they can even have the offices [built] for free. Some of these are just impossible for Hong Kong.

'They started after the Cyber-Port [was proposed]. Now they have already made some progress . . . Some companies in the zone were listed on the stock market. There is much we can learn from the zone.'

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When asked if he would consider investing in the zone, Mr Li said: 'That is not what is in mind at the moment. On the contrary, I am thinking we should offer more incentives to investors in the Cyber-Port to make it attractive to foreign investors.'

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