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2012/05/09

EVOLUTION OF TIER 2 CITIES IN CHINA

-This guy's pronunciation is HORRIBLE!!! 


China is rapidly evolving in its R&D globalization journey and is competing head on with other emerging nations. Outside of US, China has the largest number of R&D centers. There are over 1,300 Multi National Companies’ R&D centers in China and few thousand domestic product companies.
Most of these companies are based in the large Tier 1 cities such as Beijing, Shanghai, Shenzhen, Guangzhou, Dalian etc.
In the past few years, China is witnessing rapid expansion of secondary locations as the Tier 2 cities are increasingly becoming viable for Foreign and domestic companies to set up their R&D centers. Cities such as Chengdu, Xi’an, Wuhan, Nanjing, Suzhou, Wuxi, Tianjin etc. are gaining prominence as emerging R&D hubs.
Some of the key drivers for this transition are
- Significant cost arbitrage between Tier 1 and Tier 2 cities. Total cost of operations in these cities could be as high as 30% compared to the Tier 1 cities
- Access to the best in the class talent that is growing rapidly due to local university eco-system
- Reverse migration of native talent which is unable to gain Tier 1 city’s residence permits
- Ever improving infrastructure that is almost on par with Tier 1 cities
- Rapid growth of the Tier 2 cities due to high rate of urbanization
- Another key driver is the incentives provided by the federal and local governments which can lower the cost of operations even further
The government has come up with visionary policies and plans to promote R&D activities in tier – II cities. Federal government has significantly increased the investments into Tier 2 cities in their 12th 5 year plan between 2011 – 2015.
Some of the key goals of their current 5 year plan are
- Developing seven new strategic industries with favorable policies focusing on innovation led growth
- Cultivation of human resources via the deployment of National Talent Development Plan across the country, especially with a focus on Tier 2 cities
The government wants to replicate the success of tier -1 cities like Beijing, Shanghai in tier-2 cities like Xi’an, Suzhou, Chengdu, etc.
For more information on this report or other global talent, cost and peer group benchmarking details, visit zinnov.com.


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