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New urban planning to lift Hangzhou's sci-tech innovation

ehangzhou.gov.cn| Updated: March 30, 2021 L M S

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Qiantang New Area in Hangzhou unveils a new science city on March 25. [Photo/hangzhou.com.cn]

Qiantang New Area in Hangzhou unveiled a new science city on March 25, aiming to increase its industrial strength and improve upon its weaknesses.

The central area of the new city will encircle the current university town and focus on technological innovation by building major science and technology infrastructure, cutting-edge cross-research platforms, and research universities and institutes.

A commercialization area for new innovations and an urban comprehensive functional area will help the central area incubate scientific and technological projects and improve urban public services.

The new city aims to bring high-quality industrial development to the entire Qiantang New Area and modernize the region's industrial base and chains.

To achieve this goal, the new city will work to enhance research capabilities for practical use, seek coordinated development between industrial chains and innovation chains, establish clusters for innovative resources, form cooperative ties with local schools, and improve the utilization of urban space.

By 2025, the new city is expected to become a leader in the Yangtze River Delta region in terms of comprehensive strength in scientific and technological innovation.

The city is expected to generate 210 billion yuan ($30.09 billion) from industrial enterprises above designated size (enterprises with an annual output of over 20 million yuan) and invest at least 30 billion yuan in fixed assets over the next five years.

The city's investment in research and development accounts for 4.5 percent of regional GDP, and it is expected to set up over 300 research institutes at the provincial-level and higher.

It is also expected to see its digital industries generate 100 billion yuan in annual revenue, while its biopharmaceuticals industry is expected to reach a value of 100 billion yuan.

In addition, the new city will develop 100 key disciplines. It aims to attract over 250,000 high-end professionals, 200 of which will be leading industrial talent that are from both home and abroad. It will also rent out 2,500 apartments to talent.