Booming building economy highlights vibrancy of Hefei high-tech zone

The Hefei National High-Tech Industry Development Zone in Hefei – capital of East China's Anhui province – is showcasing its dynamic nature through the continuous development of the building economy. 

The building economy, or vertical economy, refers to the new economic model in China, driven by commercial buildings, facilities, and rental spaces, promoting regional economic development through various modern service industries.

A view of the Hefei National High-Tech Industry Development Zone. [Photo/gxq.hefei.gov.cn]

As of the end of September, the number of major buildings in the high-tech zone exceeded 20, with a total office area of more than 1.3 million square meters, the latest data has indicated. 

There are currently 3,648 enterprises settled there, including 74 "unicorn" companies, with a total annual revenue each of around 13.5 billion yuan ($1.9 billion) and a tax contribution of more than 1.26 billion yuan.

As the start-ups in the sci-tech field often face the problem of insufficient funds in the early stages of their development, the high-tech zone has used its E1 complex to serve as a "fund" building, to attract top capital management and funds companies to settle there. 

The fund building has accommodated both State-owned equity funds and purely market-oriented funds – providing seed funds, venture capital funds, private equity funds and more. 

The fund building is also equipped with a professional service team and has established a comprehensive service system that combines basic services, platform services and value-added services, thereby providing all-round support for fund raising and investment.