As Mr Zhou Xudong, Chairman of SIP, points out, the park has evolved to be much more than purely a manufacturing base in its 23 years of development. In that time, SIP has built itself up as a hub for high-tech, high-value industries such as information systems, artificial intelligence, nanotech and biopharmaceuticals.
“In recent years, as part of SIP’s endeavor to constantly upgrade its industries and strategically nurture emerging sectors, we’ve seen first-hand the emergence of a new economy, of which the HQ economy is an integral part,” he says. “We believe it’s the right route in order to fully transform from a production-oriented development model to a service-oriented one.”
According to Mr Zhou, growing the number of HQs in the park impacts the overall well-being of the region. “We believe HQs are particularly significant in terms of tax contribution, stimulating consumption, increasing employment, generating social capital and that they have a ‘multiplier effect’ on their respective industries,” Mr Zhou says.