Special economic zone proves its credentials with rapid growth
When Shantou is mentioned, beef balls, kongfu tea, seafood and a variety of mouthwatering snacks will come to the mind of anyone who has been there.
However, the special economic zone in South China's Guangdong province is also likely to leave a lasting impression.
Located in East Guangdong, Shantou is a major ancestral origin of many overseas Chinese, which is among the significant reasons why it entered the list of China's first four special economic zones in 1980, together with Shenzhen and Zhuhai in Guangdong and Xiamen in Fujian province.
Many experts attributed Shantou's sustained development in the past four decades to the generous investments of overseas Chinese, their development ideas, their business resources and even their donations.
Official statistics indicate that Shantou has secured over 5,000 foreign-funded projects involving capital inputs of $9.38 billion in the past two score years, 90 percent of which are funded by overseas Chinese whose roots can be traced back to Shantou.
Shantou in South China's Guangdong province is set to become a provincial subcenter as its economy undergoes a vigorous expansion. CHINA DAILY
Shantou was allowed by the State Council to set up its overseas Chinese economic and cultural cooperation experimental zone in 2014, marking the only national reform and innovation platform focused on "overseas Chinese".
"Shantou is at its prime time now with strategically important positioning. Our officials at all levels are full of vigor to make the city better," Wu Xianhong, chief of the Shantou development and reform bureau, told China Daily recently.
In October 2018, Shantou was given a new role as a major pole to build a modern coastal economic belt. It was later clarified in a document of the provincial government that it would serve as a subcenter of Guangdong.
"We are optimistic about the new positioning and will go all out to catch up with better developed cities in the province," Wu said.
Industrial development has been given priority to lead the city's economy, he stressed.
To be specific, the city will focus its efforts on upgrading three traditionally strong industries and fostering three new sectors, Wu said.
The traditionally strong industries are textiles and garments, handicrafts and toys and chemical and plastics, which target an annual industrial output of 100 billion yuan ($14.6 billion) each.
Its textile and garment industry, for instance, contributed nearly one-third of the city's total industrial output, close to 100 billion yuan in 2019.
Its toy industry is strong with a full chain ranging from design, raw materials and components to packing, sales and exhibition.