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The Guyi Garden Economy City in Jiading district, Shanghai, has become an ideal site for entrepreneurship and innovation. [Photo/jiading.gov.cn] |
Business incubator Guyi Garden Economy City celebrated its 15th birthday on Aug 28.
The center in Nanxiang town, Jiading district has become one of the most successful breeding grounds for innovative start-ups in Shanghai's suburbs.
The Economy City has hosted more than 8,600 companies with registered capital of 28.8 billion yuan ($4.4 billion) since its founding, including a large number of businesses that went on to become top brands, according to local officials.
It has also become a major source of government revenue. The Economy City paid 618 million yuan in taxes during the first half of 2017, up 26 percent year-on-year and well over its target for that period.
The hub continues to attract more investment. It has brought in 531 investment projects during its 15-year existence, covering a range of emerging industries. It has also built three investment attraction platforms.
According to the officials, these impressive results are mainly due to the good business environment in the Economy City and the outstanding performance of its companies.
The center has taken advantage of Nanxiang's convenient transportation and lower business costs compared to downtown areas of Shanghai to offer better services to companies moving in, and has encouraged them to pursue innovation.
It also focuses on strengthening exchanges and cooperation between local companies to produce more win-win results.
Outstanding enterprises will also receive awards, encouraging more companies to pursue excellence.