86 buildings generate 121.1b yuan in taxes

Writer: Zhang Yu  | Editor: Jane Chen  | From:  | Updated: 2019-05-09

Around 121.1 billion yuan (US$17.89 billion) in taxes were generated by 86 buildings in Futian District in 2018, and the GDP and tax revenue per square kilometer in the district both hit record highs, reaching 5.28 and 2.15 billion yuan, respectively, news outlet Nanfang Plus reported.

These eye-catching figures were attributed to the “building economy,” which has become a significant manifestation of Futian’s high-quality economic development, according to the news report from Nanfang Plus.

In the process of shaping the “building economy,” the government, enterprises and buildings have formed a virtuous circle, said the news report.

On the one hand, the government guides enterprises in upgrading themselves and provides localized services for high-end industries. On the other hand, owners of commercial buildings are setting more stringent standards for tenants, with some building owners taking the initiative to make room for high-quality enterprises to settle.

“Under the same standard, it is easier for buildings to gather enterprises at the same standard, and more importantly, with the same level of people in these enterprises,” said Wang Yiping, CEO of Shenzhen Jasper Capital Management Co. Ltd.

Taking Jasper Capital as an example, one-third of the company’s 50 employees have doctoral degrees, 80 percent have a master’s degree, and two-thirds have studied overseas. Wang himself studied and worked in the United States for 20 years.

In fact, Futian has gathered 67 percent of the city’s licensed financial institutions and more than 50 percent of the venture capital institutions in Shenzhen, according to Nanfang Plus.

However, what impresses Wang the most is the government’s open attitude toward enterprises, and science and technology. “We can communicate with the government. It is close enough to us instead of considering itself superior,” Wang was quoted as saying.

Futian has also set up a liaison system and organized special policy seminars to help buildings attract enterprises and assist enterprises in solving problems. In 2018, the district’s enterprise service center started offering door-to-door services to more than 5,000 enterprises.