Imagine a fleet of flying cars soaring through the spaces between high-rise buildings. While it is a common trope in science fiction, some autonomous aerial vehicles may be flying through the sky by as early as next year. One of these vehicles, capable of safely carrying a passenger, has been successfully designed and manufactured by EHang Intelligent Equipment (Guangzhou) Co., Ltd.—and will fly through the skies of Dubai in 2018.
At some point, flying cars will probably reconfigure the world’s transportation system—the idea is fresh and innovative. The car set to soar through Dubai is being designed in the Huangpu and Guangzhou Development District (the “District” for short) in eastern Guangzhou, a bustling metropolis on the Pearl River.The District is located in the up-and-coming Greater Bay Area, an integrated economic zone where the Chinese government aims to link major cities in south China. The District covers an area of some 486 square kilometers.
Over 1,000 years ago, the ancient Maritime Silk Road began in Guangzhou—and the trade route gave way to its early boom as a commercial capital. After China’s period of opening up and reform three decades ago, the first batch of national economic and technological development zones were built in Guangzhou. The city has not only profound historical heritage but it is also a modern industrial powerhouse.
The work report to the 19th CPC National Congress in October said that innovation is the primary force guiding China’s development, and the strategic support for building a modern economic system. The District taps into this potential for fostering innovative industries, and also leads the surrounding area forward.
In August, the Cold Spring Harbor Laboratory in the United States and the District co-established the Cold Spring Harbor (Guangzhou) research institute, a science and technology achievement transformation center—and also a leading bioscience cooperation project. This year, CEOs from more than 600 enterprises worldwide came to seek cooperation in Guangzhou. There were 11 projects from Fortune Global 500 enterprises and 67 key projects that had contracts signed and settled in Guangzhou. Land was reserved for 37 projects: marking a total investment of over RMB 150 billion.
The Guangdong Province government has also prioritized many innovation zones in the District. Authorities have not only favored a fast-growing industrial economy—but also innovation in government services and investment promotion, to create more opportunities for world-renowned enterprises to engage with China.
The District has so far launched reforms to streamline administration, delegate powers, and improve regulation and services in Guangdong—all of which has made the process between enterprises and the government both quicker and more efficient. The District is the first place in Guangdong to have set up the Bureau of Administrative Examination and Approval, which reduces the government review on items of enterprise investment to 30 working days—and ensures a one-stop service for items on policy fulfillment within 34 working days.
Magna International Inc., a global supplier of auto parts, invested in the District’s Cosma Automotive System Project. It took half a year from the signing ceremony to having the project commissioned. BeiGene Biopharmaceutical Project invested RMB 2.2 billion and it took only 14 days from the signing ceremony to breaking ground.
The District has the only intellectual property reforms that are being piloted in China. The government issued the “Gem Ten Rules,” which are so far the country’s strongest legal support for intellectual property protection.
“We are keenly aware that Guangzhou Development District has made fruitful efforts. For instance, the environment of intellectual property and other business environments have gradually turned more favorable,” said Zhu Shouyu, the Deputy General Manager of CASI Cloud Co., Ltd., and also an expert in international recruitment.
The overarching business model in the District is what is known as capital-driven investment promotion. This means that funds are injected into state-owned enterprises, and then those enterprises in turn develop and grow larger through joint ventures. This model was proved successful at GE’s first bio-campus in Asia, which is also located in Guangzhou.
“We base the District on real economy, and prioritize the ‘analysis on components’ of the industrial innovation ecosystem including systems, venture capital, technologies, and intellectual property protection. We also heed what we are lacking and make prompt changes, thereby moving faster to create a ‘closed loop’ among the chains of value, innovation, and capital,” said Zhou Yawei, a high-ranking government official on Guangzhou’s Municipal Committee.
The District has so far attracted more than 3,400 foreign-owned enterprises and over 150 projects from FortuneGlobal 500 enterprises. Research and development institutions amounted to 700. This year saw more than 1,500 hi-tech enterprises strike deals in the District.
The 2017 Fortune Global Forum will kick off in Guangzhou on December 6. The elements of innovation so strongly woven into the District’s core will likely be a hallmark feature of this year’s prominent economic conference.
Innovation in the District is key—it steers development, creates opportunities, and builds hope. It is not too much of a coincidence that “Huangpu” sounds similar to the English word “hope.” This can serve as an easy reminder that the District is a cradle of hope and opportunities for future development.
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