Vincent Lo - Urban Innovation in China

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Vincent Lo - Urban Innovation in China

  1. 1. Partnership for Urban Innovation: Global Conference 2010 - Urban Innovation in China Mr. Vincent H. S. LO Chairman, Shui On Land 17 June 2010 1
  2. 2. China’s impressive economic track record GDP growth yoy 16% 14% 13.0% 12% 10% 9.6% 9.5f% 8% 8.7% 6% 4% 2% 0% 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010f Source: National Bureau of Statistics, World Bank (2010 forecast) • Average real GDP growth rate of 9.9% since the Open Door policy began in 1978 • Timely and effective stimulus programme – China grew by 8.7% in 2009 and by 11.9% yoy in Q1 2010 • The World Bank forecasts GDP growth of 9.5% in 2010 2
  3. 3. China’s Enormous Urbanization Program and Unique Opportunity • China has an unique, historic opportunity to reshape its cities and become the world’s leader in urban innovation • China’s cities will expand enormously – its urban population will increase by 342 million by 2030, and by 430 million to reach 980 million by 2040 (UN forecasts) • Reasons for rapid urbanization in China – To lessen urban-rural disparities – To achieve a relatively “well-off society” living standard for all by 2020 – To provide sustainable economic growth momentum 3
  4. 4. Green and Innovative Economic Growth • Emphasis on environmental quality and green GDP – Harder for polluted cities to attract investors and creative class in higher-value sectors – Environmental clean-up could cost about 5% of GDP per year over a 10-year period, a sizeable but necessary investment – Clean tech can be a new growth engine, and China has opportunity to leapfrog to the front of this emerging sector • GDP growth will be increasingly based on innovation and productivity gains – Beyond economic growth based on labour and capital only – Nurture new business clusters and deepen existing ones – Importance of creative class in driving growth of high-end economic activities 4
  5. 5. Livability is Key for 21st Century Urban Design • Lessons from urban trajectories of developed countries – Interesting natural surroundings, pleasant climates or quality urban landscapes are in high demand – Preservation of heritage buildings to revitalize historic sites and neighbourhoods – Rapid rise of middle class creates a market for high-quality developments that offer a wide range of services, adopt leading edge design and embody local culture 5
  6. 6. Urban Planning Best Practices – Diversity and Adaptability • Cities follow diverse urbanization paths – Facilities to nurture competitive industrial clusters (Chongqing, Wuhan, Foshan, Dalian) – Amenities to support activities of high-end business and professional service centres (Beijing, Shanghai) – Balance between natural and built environments (Hangzhou, Kunming, Xiamen, Qingdao) • Technological change and modern lifestyles mean urban planning needs to be highly adaptable – Adopt best planning practices – Undertake comprehensive impact assessment – Joint public-private evaluation of each proposed development project according to its expected contribution 6
  7. 7. Shanghai’s journey towards becoming a world city Services as a share Services as a share of Real GDP growth of GDP GDP 20% Real GDP growth 70% 18% 60% 16% 14% 50% 12% 15.0% 40% 10% 8% 30% 6% 20% 4% 2% 10% 0% 0% 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 1Q2010 Source: Shanghai Municipal Bureau of Statistics • Shanghai’s GDP growth has averaged 9.9% since 1978, accelerating to average 12.2% since 1992 • Shanghai was recognised as the “dragon head” of the Yangtse River region in 1992, following the setting up of Pudong New Area • Consistently a leading destination for foreign direct investment in China 7
  8. 8. Shanghai – Taipingqiao Redevelopment Project Shui On Land’s first large-scale, mixed-use city-core redevelopment project to create a “Total Community” equipped with full range of amenities via master-planning to enable life enrichment of “Live-Work-Play” within walking distance. Taipingqiao, Shanghai Corporate Avenue Lakeville Shanghai Xintiandi Taipingqiao Lake & Park 8
  9. 9. Shanghai Xintiandi The project embodies a sustainable community by “Preserving the Past, Building Communities for the Future”. The dilapidated Shanghai traditional residence “Shikumen” was injected with new life by preserving its architectural beauty and creating its new commercial value. Original Now 9
  10. 10. Shanghai Xintiandi By bringing together the international expertise and local experience, the project sets a cultural platform for “East-Meets-West”. 10
  11. 11. Shanghai Xintiandi Shanghai Xintiandi has become an internationally-renowned landmark of Shanghai. It attracts numbers of world leaders and government officials to visit. 11
  12. 12. Knowledge & Innovation Community (KIC), Shanghai The project is aligned with the government’s strategy of “Revitalising the City with Science & Technology”. Sharing the visions of the Silicon Valley in the US and the Left Bank in Paris, KIC focuses on enhancing technological innovation and entrepreneurship spirit. Placing strong emphasis on education, technology, research and business incubation, KIC is a multi-function community where people live, study, work and relax. KIC Tech Park - an R&D area Jiangwan Sports Centre KIC Village - a mixed-use area comprising residential, office, retail and recreational amenities KIC Plaza - a work, business, innovation, learning, leisure and cultural core 12
  13. 13. KIC Adjacent to 14 universities, and about 40 key state laboratories and research institutes, this project will become the intellectual hub of Shanghai. 13
  14. 14. Dalian Tiandi, Dalian Dalian is recognised as a regional economic hub in northeast China and is well known for its rapidly emerging information technology outsourcing (“ITO”) and business process outsourcing (“BPO”) industries. Dalian Tiandi project has a total planned buildable GFA of 3.54 million sq.m. 14
  15. 15. Chongqing Tiandi, Chongqing & Wuhan Tiandi, Wuhan Chongqing Tiandi is a commercial and financial hub for Western China. The GFA of Chongqing Tiandi project is 3.48 million sq.m. Wuhan’s strategic location makes it an important economic hub in central China. The GFA of Wuhan Tiandi project is 1.47 million sq.m. 15
  16. 16. Foshan Lingnan Tiandi, Foshan Foshan has been active in regional collaboration and is closely integrated with the Guangzhou-Foshan Economic Zone and the Pan-Pearl River Delta. The GFA of Foshan Lingnan Tiandi project is 1.64 million sq.m. 16
  17. 17. Continue to Innovate - A Pioneer in Customisation One of our innovative initiative is the premium customisation programme. To cater individual preferences, we are offering customers a selection of interior designs based on different floor plans. It has not only helped to enhance the flexibility and functionality of our products, but also to conserve the use of the earth’s resources. 17
  18. 18. Urban Innovation and Real Estate High-quality, well-planned real estate projects designed in line with city growth and sustainability objectives can catalyse the emergence of CBDs and knowledge hubs as focal points for service sector activity as well as energise traditional but lagging urban areas. With its KIC and Tiandi series of developments, Shui On is setting an example of innovative urban development. 18
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