We can learn from Chinese city's drive for big business
Four Masters students from Queen's University Management School are currently travelling through China to find out more about one of the world's fastest growing economies. One of the students, Enda Scanlan, keeps us up-to-date with his travels:
Chongqing is a city which is expected to be a centre for trade and commerce in the future.
This claim is supported by the recent ranking of Chongqing by Fortune as one of the 15 newly emerging best cities to do business in the world.
A massive push for investment was initiated under the Chongqing Development Plan in 2007 and this policy provides the blueprint for what is hoped to be sustainable future growth.
Over the course of the last few weeks, we have had the privilege of meeting with and discussing the development of Chongqing with the key institutional actors in this process.
What is clear is that the government here is playing an important role in Chongqing's development.
Many meetings with governmental research agencies and trade promotion agencies has allowed us to understand how policies are being enacted and may offer some lessons for economic policies back home too.
The government is investing in building industrial parks to attract investment from the world's top hi-tech companies.
We have had the chance to visit some of these parks and the scale of some of the operations is something to behold. For example, some global manufacturers such as Hewlett Packard and Foxconn which have already located in the Xiyong industrial park employ up to 50,000 people.
Similarly, green business is being seen as a future pillar of growth. Research agencies we have met, such as the Low Carbon Research Institute, have been formed with the aim of commercialisation of innovative low carbon technologies and companies which are in green business are incentivised.
Many of the representatives we met noted international collaboration as a key concern.