RMB1 Billion's Technical Reformation Program in Cixi City Fulfilled without Any Land Expansion

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Mar 15,2005

Huanchi Bearing Group Corperation, located in Cixi city, invested RMB50 million to introduce a precision quiet product line from Japan this year. This can be regarded as an other great investment since they spent the first RMB50 million last year to upgrade their original bearing product line. It's also said that the company will invest the third RMB50 million in the next year. What surprise us the most is that all the technical reformation programs of Huanchi Bearing is fulfilled without any land expansion. In fact, enterprises like Huanchi Bearing can be found almost anywhere. Statistically, there are totally 70 "No Expansion Technical Reformation" programs in Cixi, which valued over RMB1 billion. 44 of those programs which cost more than RMB10 million are equipment upgrading programs. In the past 2004, total output value of Cixi's industry hit RMB120 billion as a result the restriction on economy caused by land shortage become more and more dramatic. To solve the problem, the government issued a Guiding Catalog for Industrial Investment in which the household appliance, textile and other industries were classified into three group: encouraging develop, restricting develop and forbiding develop. No preference policy is available to the last two groups. For the No Expansion Technical Reformations, there will be lots of preference. In 2004, the government invested RMB26 million to support the equipment upgrading programs. Government's supporting make the No Expansion Technical Reformation so hot in Cixi. Most enterprises implemented technical or equipment reformation to make themself more competitive. The output value of Cixi's High-tech industries hit RMB20 billion last year. Technical reformation account for 62 percent of the increase and half of the technical reformation programs were equipment upgrading programs.

(cbcc)

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