A thriving part of northeastern Zhejiang Province, Shangyu produces a vast variety of gift products for people on the Chinese mainland and overseas

Situated in northeastern Zhejiang Province and south of the Yangtze River Delta, Shangyu has become an important city between Hangzhou, Ningbo and Shanghai. Covering 1,403 square kilometres and with about 780,000 people, it also boasts a 2,200-year history and is the birthplace of celadon pottery. It has nurtured many ancient heroes, scholars and thinkers.

In 2016, Shangyu’s GDP reached US$11.2bn. Total financial revenue amounted to US$1.5bn, and export value achieved by private enterprises totalled US$3.44bn. The city has forged solid business relationships with 150-plus countries and regions, while more than 500 enterprises from 48 nations and regions maintain investments there.

To attract foreign investment, Shangyu proactively implemented a “number-one-project” strategy. The effort paid off as foreign-contract values soared to US$111m in 2016, with actual investment reaching US$150m, ranking the city at the top in Zhejiang Province.

Geographical advantages
Shangyu is well-connected with Hangzhou and Ningbo by established, efficient transport networks of sea, road and railway links. It’s near the Hangzhou Xiaoshan Int’l Airport, just a 40-minute drive from the city centre. Furthermore, the Hangzhou Bay Bridge, Jiashao Bridge, Hangyong High-Speed Railway and Shangyu Port all make the city more easily accessible within a 1.5-hour travel radius from Shanghai. All these factors confirm Shangyu’s role as an important provincial transport hub.

Powerful production
Consistently, Shangyu strengthens its four pillar industries, namely machinery, fine chemicals, textiles and lighting. Emerging sectors focus on advanced machinery, whole vehicle and auto parts, new energy sources or materials, energy-saving products, bio-medicine and electronic communication.

Keen for recognition as an energetic industry-and-trade centre, Shangyu is home to 663 large-scale enterprises. These include 11 main board-listed companies, six NEEQ-listed companies and another 209 each with annual sales exceeding US$16.4m. Together with many other dynamic manufacturers, they generated total 2016 production worth US$31.6bn. Total production value generated by large-scale enterprises alone reached US$27.21bn.

Following a strategy to build economic clout using business and trade, Shangyu has boosted its reputation as the “new commercial capital of eastern Zhejiang” and been named for three consecutive years by Forbes magazine as the best provincial-level commercial city. It also gained titles as one of China’s top 10 modern-service industry investment districts and a demonstration city for service-industry innovations.

Agriculture and tourism loom large too. Shangyu achieves fame for its grapes, cherries and other fresh fruit, plus its beautiful scenery, relaxing environment and shopping temptations.

Encouraging polices

A series of policies set by the committee government of Shangyu enhances different business arenas, including industrial and economic development, recruitment of talent, modern services and tourism. For industrial and economic developments, a focus is placed on promoting investment, recruiting new businesses, nurturing new enterprises, accelerating the development of traditional industries and developing emerging sectors. Other priorities also include encouraging overseas investment, speeding up the development of the eastern zone of the Hangzhou Bay Shangyu Industrial Zone, and developing new business sectors at the Shangyu Economic Development Zone.

For the recruitment of talent, an emphasis is placed on the formulation of capital management for overseas, high-level start-ups, housing subsidies for Shangyu’s home-grown talent, encouragment of the recruitment and nurture of high-level talent, and the implementation of “green card” policies for incoming or overseas investors.

Last but not least, for the modern service industry, the major goal is to accelerate the development of different areas in this sector.

Advantageous areas

The city also has national and provincial economic and technology development zones, specifically the Hangzhou Bay Shangyu Economic Development Zone and the Shangyu Economic Development Zone. It advances with a core mission for more development, including the Cao’e River Tourist Resort, High-Speed Railway New Town, and “One River, Two Banks” Area. This will effectively establish a multifaceted platform with “three zones, one town” leading the way, powered by constructions of the “One River, Two Banks” Area and completed with specialised clusters that guarantee strong economic development.

Hangzhou Bay Shangyu Economic Development Zone

Located south of Hangzhou Bay, this zone lies in the core area between Shanghai, Hangzhou and Ningbo. Near the Jiashao Bridge, it was upgraded by the government in 2013 into a national economic and technology development zone with a total usable area of 275 square kilometres that is divided into three major sectors (the middle, east and west).

Since its establishment in 1998, the zone grew in leaps and bounds, and now 40 square kilometres are utilised. It has attracted 15 overseas and locally-listed companies to form a conglomeration with a total investment of US$9.73bn. Three of these companies rank among the world’s top 500 enterprises. The zone is classified as a key economic area along Hangzhou Bay’s coastline. It plays an important role for 14 prominent industrial conglomerations in Zhejiang Province and wins recognition among the top 10 industrial zones, those with the highest investment values.

For the future, this zone will continue forging ahead as an advanced technology-driven industrial area focused on developing hi-tech machinery, automobiles and components, new energy sources and material, “green” electronic appliances and high-end services. It serves as an important, fast-growing and upgraded economic zone ideal to develop new industrial sectors and economic activities such as marine economy and ecological urbanisation. The four major industrial parks, namely Rixin Technology Park, Sino-Danish Ecology Industry Park, Technology Innovation Park and Automobile Components and Parts Industrial Park, not only showcase industrial transformation and upgrade, but also spearhead smart device manufacturing, new energy automobile and auto parts production, and new material and eco-energy industry.

Shangyu Economic Development Zone
This zone launched in 1992 based on long-term plans to develop 42.8 square kilometres of land. In 1993, the zone gained approval to expand as a provincially graded economic area, and in 2000 the provincial government determined that the zone should incorporate technological, industrial and trading activities, entertainment, public infrastructure and residential areas all in one conglomeration. The zone is designed to function as a production base for large industries while acting as a top-grade innovation centre.

Among the 1,700 companies now based in the zone, 38 are nationally recognised hi-tech enterprises, three are nationally graded technological centres and 10 have been listed successfully on the Chinese mainland’s stock exchange market or elsewhere.

The zone also fosters production service in a designated 14.5 square kilometres area in order to speed up development in emerging strategical industries and contemporary services. High-end equipment production, energy saving light sources, light textile and auto parts manufacturing will be introduced and upgraded, with e-commerce, modern logistics, technology innovation and financing providing all necessary support. Another spotlight will be e-Games Town development targeted at prompting the city to become the nation’s capital of network games, and a major innovative digital content provider on the Yangtze River Delta. Burgeoning B2B business and offline standardisation will see e-commerce and logistics elevated to new heights.

Cao’e River Provincial Tourism Resort
Approved in December 2012 by the government of Zhejiang Province, this 110.9-square-kilometre area takes shape as a provincial-grade tourism resort. Close to Shangyu’s city centre, it offers access to the highest-quality tourism resources and has enormous potential for more development. Natural resources, like lakes, rivers, jungles and mountains, are integrated with historical and cultural elements, making for memorable visits. Three rivers, three mountains and four lakes provide spectacular vistas and contribute to ideal settings for business meetings, holidays, cultural experiences and eco-recreation. The area will become very distinct and special for leisure.

High-Speed Railway New Town
At 2.34 square kilometres, the High-Speed Railway New Town is based on an ultimate goal of a five-year development schedule from foundation to completion. Once completed, it will occupy an area of 5.76 square kilometres. It’s specifically established as a business and transportation hub and a sports centre. A commercial circle is developing north of the town where a new model incorporating business and leisure will come into being.

“One River, Two Banks” Area
Further exploitation of scenic and cultural resources along the banks of Cao’e River will renew the image of the city, making it stand out as an area ideal for trade and commerce while sophisticated in culturally-conscious and leisurely lifestyles. It has three functional sections, namely bases for high-speed railway and canal operation, trading and cultural activities. The construction of Xinhua Standardisation Base, Huipu Plaza and New Network Technology Park will further introduce service industries ranging from financing, advanced technology, brand name hotels to headquarter operations.

Contact information
Shangyu Bureau of Commerce
1011 Shimin Rd, Shangyu District Shaoxing City, Zhejiang Province, China
Tel: 86-575-8212-0207/ 8212-5484
Fax: 86-575-8221-7770