Xiamen set to be core of new economic zone

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By Li Hui (China Daily)
Updated: 2009-11-17 07:59

The city authorities' ongoing efforts to attract overseas and domestic capital are also expected to benefit local research and development (R&D) facilities and enable them to offer an enhanced resource for the city's various industries.

Rational layout

The local government initiative also focuses on maximizing the appropriate exploitation of the resources of the region and on achieving overall well-balanced development. According to the plan, urban-rural integration and a rational industrial layout will be implemented.

Xiamen Island, for instance, will focus on hi-tech research and development, aircraft maintenance and component production. This will allow it to take full advantage of its airport facilities. The surrounding areas of Jimei and Tong'an will focus on machine building, optoelectronics and related industries respectively.

To enhance this extension of the industrial chain and expand the overall industrial scale, Xiamen will launch a number of industrial projects aimed at attracting domestic and overseas investment.

Xiamen will further improve its export-oriented economy, promote its opening-up policies and place a renewed focus on securing overseas investment.

The city plans to promote the localization of overseas-funded enterprises, with foreign investors being specially encouraged to establish R&D facilities in Xiamen.

Following the State Council's decision to accelerate the development of the economic zone on the western side of the Taiwan Straits earlier this year, Xiamen is poised to implement a range of measures to spur cross-Straits ties. This new round of cooperation with Taiwan will further boost Xiamen as a major destination for attracting investment from its neighbor.

The city will back the development of three Taiwanese investment zones at Haicang, Jimei and Xinglin and will adopt more incentive policies aimed at encouraging Taiwan businesses to set up production and R&D facilities in the city, particularly in the high and new technology fields.

Xiamen also plans to become an important destination for Taiwanese-backed businesses and a pioneer in cross-Straits cooperation and exchange.

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