Advanced Industry: The Driving Force Creating New Hotel Markets in China’s High-Tech Zones

HVS | September 21, 2016

By Daniel J Voellm and Nicholas Hu Runheng BACKGROUND High-tech development zones, areas representing the cutting edge of the high-tech industry, have been a driver of the economy and a window to the outside world for many cities in mainland China. Since 1991, the State Council has approved 105 national High-tech Zones in total, most of which cater to the heavy industries. However, with the continual development of China and the appearance of China's current 'L' economy, these High-tech Zones begin a transformation process and seed new industrial clusters, with an increasing share of producer service and financial services. For example,...