The Huayuankou Industrial Park in Dalian is poised to become a national-level new materials industrial center, following an announcement that it has secured 20 projects of new materials. These recently agreed initiatives are set to trigger substantial growth in Dalian, the second largest city in Liaoning.
From January to September in 2009, foreign capital in the region grew by 22 fold, domestic investment increased by 16 times and budgetary fiscal revenue was eight times that of the same period last year.
Dong Chengfa, director of the management committee of the Huayuankou Industrial Park, said the combined investment in the 20 projects was in excess of 30 billion yuan (around $4.2 billion), accounting for some 75 percent of the total investment in the region.
Dalian was recognized as one of the first seven national high-tech and new material centers in June of last year by the National Development and Reform Commission. The Huayuankou complex was subsequently developed in line with local and national demand.
In June, the Huake New Material Co Ltd invested 5.7 billion yuan in setting up an engineering plastic production base. The material produced by the company is widely used in the aeronautic and astronautic, electronic and nuclear industries. It is estimated that this project alone will produce 600,000 tonnes of material and generate an output value of 30 billion yuan.
In September, the Lichang New Material Co Ltd, a Taiwan based company, invested $160 million in establishing production facilities in the region.
Commenting on the significance of these investments, Dong said: "These kinds of initiatives will attract more and more companies and projects to relocate here."
Alongside its trade and investment promotion activities, Huayuankou has also implemented an ambitious infrastructure construction program. A five-sq-km land reclamation project is also now underway.
Currently the population in this 265 sq km town is 65,000, but this is set for rapid growth. According to local authority proposals, over the next 20 years Huayuankou will come to house a population of 500,000. In light of this, work on an environmentally friendly new town began in April this year.
Dong said: "Huayuankou park will adhere to a green and low carbon emission development policy and still achieve a turnover of 100 billion yuan in new material sector by 2015."