HUAQIANGBEI, a gigantic electron-ics and parts market in the middle of Shenzhen that has been dubbed “China’s No. 1 electronics street,” has become a global trading center for electronic products and a major hub for electronic parts. But commerce is not the only thing it has in store.

Supported by Futian’s district gov-ernment, Futian has been carrying out a selection of cultural events that have been well-received by shop owners and the public in the tech-forward space.

“In the past, I came to Huaqiangbei to search for all types of electronic prod-ucts and I left as soon as I got them. But now I can also check out shows presented by makers here as well as learn about photography and visit exhi-bitions. I can spend a whole day here, which is really cool,” said Zhao Jieshen, a recent university graduate.

Over the past year, Huaqiangbei has organized an array of events, includ-ing lion dances to celebrate the New Year, the singing competition “Voice of Huaqiangbei” and the Huaqiangbei E-Sports Carnival.

“Voice of Huaqiangbei,” rated by citizens as one of the 10 most popular cultural events in Futian, has attracted more than 1,800 contestants from home and abroad.

The Huaqiangbei Citizen Talent Class, which includes music, fi tness, aesthet-ics, calligraphy and painting, benefi ts

Fri/Sat/Sun February 9~11, 2018 economy i 05

After being closed for four years due to Metro construction, Huaqiangbei reopened to the public as a new commercial pedestrian street Jan. 14 last year. Futian’s district government has carried out a selection of cultural events that are well-received by shop owners and the public in the tech-forward space. Sun Yuchen

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Huaqiangbei uses culture to boost commerce

Talent projectTHE district government of Futian has taken a series of measures to attract talents and make the district the first choice for high-level tal-ents wanting to start an innovative business in Shenzhen.

Since 2009, through the “Talents China Tour” project, the district gov-ernment has organized major Futian-based fi rms to recruit graduates from key universities across the country every year. The project has helped more than 1,000 enterprises in Futian recruit more than 30,000 college students to Futian since 2009.Aumark super truckFOTON Aumark launched its brand-new super truck with Diesel Particu-late Filter (DPF) at the Fuli-Shajing branch of Aumark in Shenzhen on Jan. 18.

As a signifi cant member of the Foton Super Truck series, Aumark Super Truck integrates the leading technical resources of the Super Truck Global Innovation Alliance members such as Daimler-Benz, Cummins and WABCO to build a high-end mid- to-light vehicle that meets the needs of global logistics users. The design of the truck is based on the original Aumark Super Truck, improved according to the demand of Shenzhen users. The new vehicle, equipped with the leading performance the Aumark Super Truck is known for, also meets the National-V emissions standard and the standard for install-ing DPF systems.

WITH fi nance, technology and culture as its guides, Futian is striving to be on par with Manhattan and Silicon Valley to become an internationally-leading area for modern industries.

An overview of the strategic positioning of Futian was delivered by Gao Shengyuan, head of the Futian’s district government, in a government report during the third ses-sion of the 7th Shenzhen Municipal People’s Congress on Jan. 23.

The report suggested formulating medium and long-term plans for the development of modern industries as well as preferential policies for the devel-opment of artifi cial intelligence and other innovation-driven industries.

According to experts, Futian’s economy has maintained high-quality growth for a long time. However, after 28 years of rapid development, it is incumbent that the dis-trict hones its comprehensive edge.

Specifi cally, the main bottleneck for Futian’s industry development is the lack of momentum in economic innovation. The development of the service industry is oversized in comparison to the develop-ment of the high-tech industry, with the ratio of expenditures on gross domestic product lower than that of more-devel-oped regions at home and abroad.

Thus the strategic re-positioning aims to aid the district in consolidating its industrial foundation and enhancing

risk prevention measures, using the con-cept of “turning Futian into a composite of Manhattan and Silicon Valley” as a guiding model.

In addition, the report has underlined the importance of strengthening the fi nancial sector and taking an active role in constructing the Guangdong-Hong Kong-Macao Greater Bay Area.

It is also proposed that Futian should step up efforts to cultivate and introduce unicorn companies and technological enterprises. To this end, the district is committed to creating a fi rst-class envi-ronment for attracting talents, as well as to support and better serve businesses, according to the report. (Zhang Yu)

Blueprint unveiled for industry development

CHINA’S fi rst batch of insurance policies for Inherent Defects Insurance (IDI) for government-invested projects were signed into effect at the signing ceremony of Futian’s fi rst batch of 19 construction management projects Sept. 28 last year.

Since the reform of Futian’s new con-struction management was launched at the end of June 2017, the new manage-ment method has been applied to 23 construction management projects with a total investment of 8.87 billion yuan (US$1.41 billion) in the whole district, enabling a number of government-invested projects to be completed ahead of schedule.

Inherent Defects Insurance, also known as Latent Defects or Building Defects Insurance, reduces the risk of

damage due to subpar construction for building owners. IDI covers physi-cal damage to the property caused by defective design, and inadequate materials or workmanship that was undiscovered at completion.

IDI tries to guarantee that the con-struction management projects are monitored to ensure that the responsible people are held accountable for quality problems and to reduce the risk of poorly-built projects.

Currently, three insurance companies, namely People’s Insurance Co. of China, Ping An Insurance and China Pacifi c Insurance Group, have been included into Futian’s new construction manage-ment system.

By the end of November 2017, the

Culture and Sports Center of Futian District and the Education Bureau of Futian District had insured nine construction management projects, including the renovation and expan-sion projects of Public Culture Hall of Futian District, Futian Middle School and Huanggang Middle School, with a total of 3 billion yuan.

The introduction of third-party regulators, an important part of IDI, has also contributed signifi cant prog-ress. Well known technical inspection services such as Shanghai Jianke Engi-neering Consulting Co. and Bureau Veritas of France have become the quality, safety and risk regulators for the fi rst-batch of the construction management projects. (Yang Mei)

Commercial insurance helps construction projects

both businessmen and residents. The fi rst tug-of-war attracted the participa-tion of a total of 432 athletes from 24 fi rms including Huaqiang Group and Shenzhen Electronics Group.

In addition, Huaqiangbei is now home

to a large number of cultural facilities including a library, multifunctional hall, rehearsal and performance halls and an intangible cultural heritage offi ce.

The Futian District Library opened a photo and video-themed library outlet

in Huaqiangbei on Dec. 27. Located on the third fl oor of Huaqiang Electronics World’s podium building, the library has a collection of more than 4,000 books on photography, videography, TV and movie production. (Chen Xiaochun)