On May 3rd, Professor Sang Baichuan, Dean of the Institute of International Economics of the University of International Business and Economics, accepted an exclusive interview with China Daily on the topic of the Shigatse local government's attracting business investment.
According to reports, the government of Xigaze, a border defense city in the Tibet Autonomous Region, has used millions of yuan in subsidies to attract companies to come here, and will provide up to 20 million yuan for industrial or commercial projects working in the Xigaze Economic Development Zone, such as high-tech industries and modern logistics services. (3.14 million US dollars) subsidy. At the same time, it also provides cash rewards ranging from 1.5 million to 7 million yuan for companies that have passed IPOs. In response to this project, Shanghai dispatched more than 400 professionals including government officials, engineering, industry, and finance to the Shigatse area as the main consultants for the Shigatse project.
The Shigatse project was established in 2014 and is located 5 kilometers south of the Shigatse region, bordering Nepal, Bhutan and India. There are two main functional areas in the area, divided by the Jiaqu River flowing through Xigaze, and will accommodate up to 120,000 residents. Hedong is the new urban area where the city government will sit, as well as schools, sports facilities, commercial and residential areas. Hexi is designated as an industrial zone, equipped with logistics services and other auxiliary facilities. Industries in the area include logistics services, organic agriculture, drinking water industry, handicrafts, financial services and trade shows. It is estimated that by the end of next year, the output value of this area will reach 350 million yuan, accounting for 10% of the output value of Xigaze.
Dean Sang pointed out that Shigatse’s move to attract business investment shows that China’s industrial transfer is shifting to the west, which is beneficial to the whole country. At the same time, Dean Sang emphasized that the East China region like Shanghai has performed well in terms of talents and capital. The East is increasingly seeking cooperation with the West in industrial transfer. The focus of the National Tibet Assistance Program is gradually shifting to "bloodmaking" rather than "Blood transfusion", compared with initially providing loans to underdeveloped areas, Shanghai has cultivated a number of industries in Xigaze, which will help promote local economic development in a more sustainable way.
News link：http://www.chinadaily.com.cn/a/201805/03/WS5aea483ba3105cdcf651ba58.html
