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Wednesday, November 15, 2017, 18:24
Xi'an woos HK investment to revitalize ancient city
By Evelyn Yu
Wednesday, November 15, 2017, 18:24 By Evelyn Yu

The illuminated Xi'an Bell Tower in Xi'an city, Northwest China's Shaanxi province, Nov 30, 2016. (PHOTO / IC Chinadaily.com.cn)

Xi’an - capital city of Northern inland Shaanxi province and the capital of 13 dynasties spanning 1,100 years - seeks investment from Hong Kong to help revitalize the ancient cultural city.

The historic city’s projects introduction and promotion roadshow at the Island Shangri-La on Tuesday saw more than 28 strategic cooperation agreements and projects worth 55.6 billion yuan (US$8.4 billion) signed between Xi’an and Hong Kong enterprises, covering a wide range of sectors including aviation, tourism, finance and logistics.

In the 13th Five-Year Plan (2016-2020), it is our target to increase our production capacity of new-energy cars to two million, and build Xi’an into a world-class semiconductor production hub

Shangguan Jiqing, Mayor, Xi’an

Xi’an is world famous for its rich cultural relics such as the tomb-guarding Terra Cotta Warriors. The ancient cultural city also has strengths in high-technology, since the central government decided to make it the center of national aviation many years ago. Xi’an Aircraft Company for instance, a subsidiary of Aviation Industry Corporation of China, was established in 1958. “All the engines of the rockets launched in our country are manufactured in Xi’an”, Shangguan Jiqing, mayor of Xi’an, told the ceremony.

Aviation spawned hi-tech industry spinoffs in the city. Xi’an Hi-Tech Industries Development Zone for example, was founded in 1991 and is one of the six high-tech zones chosen by the central government to be developed into world-class science and technology parks.

Xi’an’s development blueprint will focus on five pillar industries - hi-tech, equipment manufacturing, tourism, modern services and cultural industry.

“In the 13th Five-Year Plan (2016-2020), it is our target to increase our production capacity of new-energy cars to two million, and build Xi’an into a world-class semiconductor production hub,” the mayor continued. 

The nation launched Shaanxi Pilot Free Trade Zone in April, so Xi’an is well positioned as a major hub for regional trade, infrastructure networks and cultural exchange as the Belt and Road Initiative rolls out.

“We are very determined to build Xi’an into an important pivot of economic cooperation and cultural exchange in the building of Belt and Road, and a new focus of reform and opening up in mainland’s interior. To achieve this goal, we are badly in need of Hong Kong’s capital and advanced experience. Reciprocally, we offer Hong Kong enterprises great new investment opportunities,” the mayor said.

Xi’an GDP reached 625.72 billion yuan last year, a year-on-year increase of 8.5 percent.

Hong Kong is the largest source of overseas direct investment in Xi’an. As of today, Hong Kong enterprises have invested US$13.23 billion in 1,382 projects.


evelyn@chinadailyhk.com

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