Coastal service project wins 57b yuan investment

By Bai Guangyuan (China Daily)
Updated: 2009-09-10 08:41

Work on the Dalian Jinbo Coastal Service Industry Development Zone, one of the priority projects identified in the Liaoning Coastline Economic Development Plan, is now well under way with the ultimate aim of establishing it as Dalian's business and administrative center and the headquarters of the service sector in the area.

The project is located on the east coast of the Bohai Sea by the Jinzhou Bay. The zone's remit stretches from the Jinzhou Bay in the west to the Jinbo coastline in the east and encompasses more than 50 km of coastline, 10 beaches and eight islands.

It is set at the very heart of the Liaoning economic coastline and benefits from beautiful scenery and extensive natural resources. With more than 40 sq km of undeveloped scrubland, the true potential of the Jinbo coastline has yet to be explored.

It is also situated at a convenient intersection point for roads and rail lines running from Dalian to Harbin and Liaoning, ensuring it has excellent communications with its key markets and suppliers.

Coastal service project wins 57b yuan investment

As a key part of the project, a comprehensive service sector is being developed. When completed, it will include a theme park, a number of five-star hotels, island travel facilities, entertainment facilities, as well as several business departments. During 2009 it will also bring to the market seven new sites for business use.

The project has already resulted in six new service sector initiatives, each accounting for an investment of more than 1 billion yuan. This brings the total investment in the project to some 57 billion yuan.

Among these new projects are the Dalian Shimao Carnival project, Dalian Rhein, the Jinzhou Coastal New Zone, and the Yutu Island Development project - all of which have been have been designated as key promotional development for Dalian over the next 12 months.

The Dalian Shimao Carnival is the largest investment projects ever undertaken on the mainland by the Shimao Group, a Shanghai-based real estate company and also the largest single service sector project ever built in the city. It will consist of a large-scale shopping mall, a Venetian-style water city, a five-star hotel, a yacht club, a convention center, a business center and several entertainment facilities.

When completed, the Carnival will span 1,000 hectares, combining 500 hectares of existing business space with a 500 hectares reclamation zone and involving a total investment of $2 billion.

When, on July 1st this year, the Liaoning Coastline Economic Development Plan was adopted as a national strategy this provided a huge boost for the Jinbo zone. The coastline's infrastructure construction work will now be accelerated, including all of its road, water, electricity, natural gas and heating requirements

The Jinbo zone is now fully set to take advantages of its location and natural resources and establish itself as one of China's key international service industry centers.