Caofeidian Modern Service Industry – Development Strategy

Abstract

This report serves to assist Caofeidian Industrial Zone in its endeavour to develop its tertiary industry so as to help pave its way towards achieving its strategic vision of becoming a global leader. It briefly introduces Caofeidian before examining the theoretical background necessary for understanding the service sector which the area desires. It also provides an analytical perspective on issues which can be overcome by Caofeidian to arrive at a holistic and ideal developmental plan. Its most important findings indicate that current demands for services are not met and hence, are indirectly hindering the growth of the tertiary sector. It is essential for such basic and public services to first be supplied in order to meet basic human needs so as to allow Caofeidian to move forward in its quest for a modern service industry. Other significant findings include various challenges which are preventing Caofeidian from achieving its goals of retaining people and expanding its present population size. These threats and issues, together with case study models from Singapore and Tianjin, are then used to design our recommendations for Caofeidian. Key recommendations are proposed to be implemented in two phases to ensure that both short and long term goals of Caofeidian are met. The most important recommendation suggests that Caofeidian establishes a strong foundation in the service industry by first ensuring all basic and public service needs and wants are met. Other significant recommendations include building a conducive business and living environment while rapidly innovating and utilising technology.