Huaqiao: a new financial Silicon Valley

Huaqiao International Business Service Park is the only provincial development area in China characterized by a dominant modern service industry. It will provide services for businesses in Shanghai and establish an outsourcing service base and a national financial outsourcing demonstration zone.

Its four major industries include an outsourcing service, a background processing center for financial institutes, a regional headquarters for manufacturing enterprises, and a logistics and purchasing center.

In 2009, the park was awarded "The Best Financial Outsourcing Base in China" and "One of the 10 Best Outsourcing Parks in China".

Huaqiao International Business Service Park borders Shanghai municipality and Jiangsu province and is only 25 kilometers from downtown Shanghai.

It is conveniently located near the Shanghai-Nanjing Expressway, Tongjiang-Sanya Expressway, Suzhou-Shanghai Expressway and Shanghai Metro line 11. It also allows for easy access to Shanghai Hongqiao International Airport and Pudong International Airport.

Plans are continuing to establish Huaqiao as an "international, technological, ecological, people-oriented and livable" satellite business park that will be influential at home and abroad.

Huaqiao is becoming known as a thriving financial "Silicon Valley". It is attempting to form a high-standard financial outsourcing center by taking advantage of Shanghai's status as an international financial center. Its slogan is: "Incorporating Shanghai, facing the world and serving Jiangsu."

A modern services demonstration zone will be set up at Huaqiao by introducing projects that involve advanced research designs, business processes and trade settlement.

It will establish a trade corporation zone with Taiwan by taking advantage of the huge number of Taiwanese companies in the Yangtze River Delta, importing and exporting Taiwanese products within this area and all around China.

Huaqiao will be a thriving place for entrepreneurship.

It aims to establish a place that will attract new industries and talent by constructing a "city of wisdom" driven by information technology.

Environmentally friendly and people oriented, Huaqiao will become a preferred place to live. The park is also undertaking a "talent multiplication plan" to attract talented individuals with a best practices and clean environment policy.

The Huaqiao International Business Park aims at establishing a business-centered, well-facilitated and attractive international satellite city and business center that will boast a production volume of 100 billion yuan ($14.6 billion). About 300,000 professionals and their families will live at the 10-million-square-meter park by the end of 2015.

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(China Daily 06/04/2010 page37)