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Economy and Industry

Jan 07, 2019 Print

With clear goals, Kaifu District will focus on the construction of "Five Functional Valleys" of finance, culture, logistics, information and hehcare. To build a finance valley, it will construct a financial business zone with larger scale and better platforms, thus attracting more financial enterprises. As for the culture valley, it will give full play to the five provincial enterprises so as to develop more business modes and expand the production of new products.

Meanwhile the district plans to build a cluster of creative enterprises in Malanshan and join hands with the Hunan Broadcasting System under the "1+1+X" strategy, welcoming investors around the world. Relying on the museums and concert halls in the riverside cultural park, Kaifu District will enlarge its animation industry park and build an international conference center, through which an exchange channel for Changsha to go global will be opened. Based on Jinxia Economic Development Zone, the district will do justice to its waterway, highway, railway, aviation and tube transporting to build a logistics valley and gather a number of high-level logistics firms that can create greater value. As a result, Kaifu District will be built into a center of clearance, product processing and distribution, and information in Changsha. Kaifu District will also avail itself of its good ecological and medical resources to build a hehcare valley.

Kaifu District will strengthen the areas of weakness in sci-tech industry and export-oriented economy. For the implementation of sci-tech innovation, it will give full play to the research institutions of National University of Defense Technology so as to promote the military-civilian integration and the cultivation of sci-tech projects. Concentrating on encouraging people to innovate and start a business, Kaifu Districtwelcomes hi-tech enterprises to settle in and grow strong. To develop its export-oriented economy, Kaifu will make up strategies for broader opening-up, which will take advantage of the five strenghths to compete in the international market and for foreign companies and service providers of good quality to enter Hunan province, thus promoting the economic interaction.

In 2017, the regional GDP of Kaifu District totaled 92.2 billion yuan, up 8.8% from last year. The investment in fixed assets was 82 billion yuan, up 15.5% year-on-year and the total retail sales of consumer goods reached 79.2 billion yuan, a year-on-year growth of 9%. The local fiscal revenue was 14.71 billion yuan, a year-on-year growth of 12.2%, of which the tax revenue accounted for 85.5%, or 12.58 billion yuan. The fiscal and tax revenue of Kaifu District ranked first for three consecutive years among the five urban districts of Changsha.

Kaifu District is also home to almost half of Hunan’s media industries. The province's media magnates like the Hunan Broadcasting System, China South Publishing & Media Group, and Hunan Daily Press Group are situated at Kaifu District.

Kaifu District offers a number of platforms for industrial development. It boasts a complete system of open platforms in waterway, highway, railway, cross-border e-commerce and customs bonded center that are supervised by the customs auhtority. The district contributes 35% of customs declaration and 40% of tariff in Hunan.

There are three competitive industries in Kaifu: the logistics industry, the cultural industry and the financial industry. Changsha's railway transportation center is located here, and the Hunan-Europe express railway is undergoing construction with a short-term freight volume of five million tons and a long-term goal of 20 million tons.

For its cultural industry, Kaifu owns five of the top eight enterprises in Hunan, including the Hunan Broadcasting System, China South Publishing & Media Group, Hunan Daily Press Group, Hunan CATV Network Group, and Hunan Sports Industry Group. As a pillar industry of Kaifu District, the financial industry endows Kaifu with a competitive edge in its construction of financial business district. Thanks to its preferential policies, 64 financial institutions including banks, securities and insurances above provincial level have settled here. Three of the Big Four accounting firms, namely PwC, E&Y, KPMG and DTT, have also opened their businesses here.

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