HKBU School of Business' MBA Students Start Yangtze River Delta Business Tour in Shaoxing

SHANGHAI, July 26, 2013 /PRNewswire/ -- In line with Hong Kong Baptist University (HKBU) School of Business' emphasis on field trips and acquisition of knowledge which allow students to get an insight into an area's local business environment and operation, the students in HKBU School of Business' MBA Eastern China 8th Program started their business tour in the Yangtze River Delta region in Eastern China with a trip to Shaoxing on July 12-13. 

Shaoxing is one of the major 16 cities along Yangtze River Delta and is located in a region with one of the country's most dynamic private economies. Shaoxing ranked in Forbes' "Top 10 Commercial Cities in China" list and has been named as one of "Chinese Golden Cities in Terms of Investment Environment." It is the fourth largest city in Zhejiang province in terms of GDP. The 14 billion yuan (approx. US$2.2 billion) Jiaxing-Shaoxing River-Crossing Bridge, which opened in the middle of July 2013, is the world's longest and widest multi-tower cable-stayed bridge. The bridge shortens the drive between Shaoxing and Shanghai from 3 hours to 1.5 hours, moving Shaoxing to inside the 1.5-Hour Economic Circle of Shanghai as well as reducing the distance across Hangzhou Bay. Shaoxing's strategic location and vibrant private economy will help students learn more about its important role in boosting the development of the industrial zone around the Hangzhou Bay, enhancing regional competitiveness and improving the area's industrial restructuring.

(Photo: http://photos.prnewswire.com/prnh/20130726/CN51458 )

Students of HKBU School of Business' MBA Eastern China 8th Program paid a visit to Shaoxing's key zones for development including Shaoxing Hi-Tech Industrial Development Zone and Binhai New Area and well-known local companies including Shimao Property and Shaoxing Tourism Group. They had informative chats with representatives from the Shaoxing Municipal Commerce Bureau, China Council for the Promotion of International Trade (CCPIT), Shaoxing Sub-Council, the Administrative Committee of Shaoxing Hi-Tech Industrial Development Zone, the Investment Promotion Bureau of Binhai New Area and Shaoxing Tourism Investment Co., Ltd. The students themselves are, for the most part, from several well-known companies including Anheuser Busch InBev China, Henkel (China) Investment, Stryker (Beijing) Healthcare Products, PR Newswire, Coeur INC, Qingdao Bater Chemical, Shanghai Gaodong Enterprise Group, Delphi Packard Electric Systems, AIGI Industrial Group of Companies, ACO Drainage Technology and Xuzhou Sanyuan Electric M&C Technology.

During the field trip, the Administrative Committee of Shaoxing Hi-Tech Industrial Development Zone made specific mention of emerging strategic industries to which the local government gave or will give strong support in terms of either policies or funding, including high-tech equipment, new materials, biomedicine, energy saving and environmental protection, new energies and electronic information.

Feng Xing, Deputy Director at the Investment Promotion Bureau of the Binhai New Area briefed the students on the area's investment plans, which included an explanation of the strategic advantages of the new area in terms of investment policies, key resources, channel building and cost structure among other aspects. He also described a series of improvements in business processes and procedures since the reform of environment protection and government affairs was put in place, including implementation of the "full authorization, closed operation" administrative approval system, streamlining of procedures and formalities inside the new area. As for strategic emerging industry projects, the local government is providing 100% of the necessary financial support during the first three years and 50% during the second three years. Moreover, the government has set up a 300 million yuan industrial fund for equity or follow-up investment in the projects.

Wang Kai, president of the China Council for the Promotion of International Trade, Shaoxing Branch said: "The field trip to Shaoxing undertaken by the students of HKBU Eastern China 8th Program can be expanded into long-term business research activities in the future. CCPIT is very glad to share the investment information and new development opportunities in Shaoxing with the university students and people from various business circles."

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Gary Gao
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SOURCE Hong Kong Baptist University MBA Eastern China 8th Program