The Hefei Municipal Government Information Office held a press conference and announced that the city's GDP in 22 was 1,4.572 billion yuan, with a year-on-year increase of 4.3% at comparable prices, 2. and .4 percentage points higher than that of the whole country and the whole province respectively.

Hefei, once ridiculed as the largest county in China, has finally entered the trillion-dollar club after nearly two decades of unremitting pursuit.

The rising Hefei has been labeled as the global home appliance capital, the first photovoltaic city in China, and the flat panel display capital? Among them, what is the most talked about? The Best Venture Capital Institution in China? . Some netizens joked that the top three strategic venture capital institutions in China are: Huawei, which digs people all over the world, and Ali, which engages in technology. Pickup man? Hefei.

who dares to be China? Gambling? Hefei is almost a city. Gambling? Must win, from taking over BOE, which is not optimistic, to? Bet? Memory chip industry, and then to Weilai automobile, where investment has fallen into a trough? It can be said that every time I earn a lot of money.

Hefei, where resource endowments and location advantages are not dominant, why can it succeed in counterattack? What is the secret behind this? Now after entering the trillion-dollar club, this one? Vegas? Can the legend continue?

introducing BOE

the first classic case is introducing BOE.

the global economic crisis in p>28. At that time, BOE was far less beautiful than it is today. The whole display industry in China, including Dongfang Electronics Group (the predecessor of BOE), was shrouded in the shadow of technological iteration, and a number of enterprises closed down one after another.

At that time, BOE was also on the verge of death. In order to survive, it sold healthy and nutritious tea, opened a Beijing roast duck restaurant and developed it? Green wave? Nutrient solution?

According to the book Light Change, at that time, the government and financial institutions were not optimistic about the display industry in China, and it was generally believed that production could only be achieved by introducing production lines from abroad. However, as a cutting-edge industry in the world, the investment scale of a production line is 12 billion yuan, which few enterprises can afford, let alone local governments.

But Hefei, with a fiscal revenue of only 1 billion yuan a year, doesn't believe in this evil. According to media reports, a Hefei government official once revealed that? In order to launch the project, Hefei promised to invest 8% of its fiscal revenue for one year. ? For BOE, Hefei even suspended the subway project. Before this, the Hefei municipal government has never given so much money to an enterprise. ? Wang Gaoxiang, director of CCID Consulting Urban Economic Research Center, told China Newsweek with emotion.

this move quickly attracted questions from all sides. At that time, the Hefei municipal government, despite great pressure, pushed through the crowd and finalized the sixth generation line project of BOE. ? The decision was very painful. ? Lin Fei, director of the regional research office of the Institute of Economics of Anhui Academy of Social Sciences, told China Newsweek.

Wang Gaoxiang thinks there are two main reasons why Hefei took such a big risk to introduce BOE: On the one hand, Hefei was an important home appliance production base in China at that time, and the government hoped to expand the scale of home appliance industry by introducing BOE. On the other hand, it is out of the need of transformation. Of the 16 prefecture-level cities in Anhui Province, 9 belong to resource-based cities, and problems such as poor structure and overcapacity have been the same problems encountered by these resource-based cities. ?

as it turns out, Hefei? Gambling? That's right.

in p>21, after the sixth generation line of BOE was put into production, it not only ended the situation that China's large-size LCD panels were 1% dependent on imports, but also attracted many upstream and downstream enterprises to gather together, forming a? From sand to the whole machine? The whole industry chain. This is a turning point. Hefei's manufacturing industry has completed the transformation and has a new display panel industry, so as to move towards a higher technical stage. ? Lin Fei said.

Today, Hefei has become one of the largest display bases in the world. In addition to a number of leading enterprises such as BOE and Visionox, a number of supporting enterprises have also settled in, opening up the whole industrial chain from raw materials to core devices to terminal applications.

Wang Gaoxiang believes that for local governments, betting on enterprises is the same as taking risks by private investors. ? Because there are not many good opportunities, once you look for them, you must take risks. The bet is right, and the results are very impressive. Hefei to BOE? Gambling? It directly stimulated local investment, accelerated the settlement of investment projects in Hefei, and enhanced the domestic strategic position. ? Bet? Memory chip

In p>217, Hefei turned its attention to memory chips.

In this year, Hefei Municipal Government and Beijing Zhaoyi Innovation Technology Co., Ltd. (hereinafter referred to as Zhaoyi Innovation) established a joint venture company Changxin Storage Technology Co., Ltd. (hereinafter referred to as Changxin Storage), specializing in dynamic random access memory (DRAM). Among them, Hefei contributed 75% and Zhaoyi Innovation contributed 25%. Do DRAM? ? Zhao Lun, general manager of Changxin Storage, blurted out when he was invited by Zhu Yiming, chairman of the board, and was very surprised.

At that time, the DRAM market was divided among Korea, Japan and the United States, and it was difficult for enterprises from other countries to get a piece of it. Chinese mainland's independent production capacity was almost zero.

statistics show that in 216, the PC market in China sold about 51.4 million units, and the global PC shipments in that year totaled 269.7 million units. Both stations need memory, and this is just the tip of the iceberg in DRAM application market. Such an important product could not be produced in China at that time. Once embargoed by foreign manufacturers, what will it be? Stuck in the neck? Things. ? Teng Ran, deputy general manager of CCID Consulting IC Research Center, told China Newsweek.

With the help of Hefei Municipal Government, Changxin Storage has built a production line worth 1 billion yuan, and bought a large number of DRAM technology patents jointly. This is a post-investment management service that many venture capital institutions are difficult to provide.

In September p>219, Changxin Storage announced the mass production of 8Gb DDR4 synchronized with the international mainstream DRAM products. Under the influence of Changxin Storage, a large number of semiconductor enterprises have also settled in Hefei. After making a breakthrough in the display industry, we will develop the chip industry. What does Hefei intend to build? Is the core screen closed? The big pattern. ? Wang Gaoxiang analyzed and said, On the one hand, Hefei's display industry is very mature, occupying the domestic highland; On the other hand, the short board of China's chip industry is prominent, which has become an obvious short board restricting economic and social development. ?

the semiconductor industry is famous? Gold-swallowing beast? Before, there was an abrupt stop of Guizhou Huaxintong, and after that, there was a shutdown of Wuhan Hongxin, but Hefei took the most difficult first step.

Today, there are more than 2 integrated circuit enterprises in Hefei, which is listed as one of the nine major integrated circuit gathering and development bases in China by the Ministry of Industry and Information Technology.

Take over Weilai

The most controversial one in p>22? Invest 7 billion? Bet? Weilai automobile is also from Hefei.

In p>219, Weilai Automobile lost 11.296 billion yuan, and its share price fell to 1.19 USD. Someone joked,? Chang' an street also had a nest, and the stock fell into more than one piece? . Many people in the industry also believe that Weilai Automobile will fall in the spring of 22.

for weilai automobile, Hefei's hand is undoubtedly? Lifesaving straw? And the latter is betting on the long-awaited new energy industry chain. It is said that it took only 65 days from the announcement of the framework agreement between the two sides to the conclusion of the investment.

With the investment of Hefei municipal government, Weilai automobile broke out after the cold winter. On February 3, 221, the market value of Weilai reached 87.15 billion US dollars. In more than a year, it soared more than 5 times. At the peak, the market value exceeded 1 billion mark, even surpassing traditional automobile giants such as Mercedes-Benz, BMW and Volkswagen. Compared with the previous two investments, Hefei has a better time to invest in Weilai. ? Lu Wenliang, general manager of CCID Consulting Automotive Industry Research Center, told China Newsweek. At the time of the first two investments, the industry was in the initial stage in China, with great development difficulties, technical difficulties, large investment scale and many uncertainties. The investment in Weilai belongs to the new energy automobile industry. In the early stage, China has built a relatively complete new energy automobile industry chain, and the production and sales volume is about to enter a high-speed growth stage. ?

In Lu Wenliang's view, Hefei's investment in Weilai Automobile is worth looking forward to as always. He said,? The development trend of automobile industry has been clear, and its development potential is huge. Hefei has grasped the key nodes of the industry development, and its future income is considerable. ?

After signing a contract with Weilai for one month, Hefei is in a favorable situation. Volkswagen announced that it will invest about 1.1 billion euros in Guoxuan Hi-Tech, a new energy enterprise in Hefei, and will invest 1 billion euros to acquire the parent company of Jianghuai Automobile? 5% of the shares of Anhui Jianghuai Automobile Group Holding Co., Ltd., and increase the shareholding of electric vehicle joint ventures? Jianghuai Volkswagen? Shares to 75%.

This means that the international automobile giants have really entered the new energy automobile market in China, and Hefei has taken this opportunity to point out? New energy capital? . Hefei model?

I held a bad hand, but I played a king's bomb. The success of Hefei cannot be simply attributed to luck. In fact, in the investment industry, there are countless examples of local government failures.

In p>219, Rugao City, Jiangsu Province, with a budget income of only 7 billion yuan, took out 6.6 billion yuan, but it was a real money? Sudden death? Sai Lin. Wuhan Airport is also a wake-up call. The total investment of Wuhan Hongxin Project is 128 billion yuan, and the industry is hired. General? Jiang Shangyi sat in the town, but he still regretted it. We have seen that many cities blindly copy? Hefei model? There are some problems, such as decision-making mistakes, unfinished projects and potential interest transfer. We should learn from Hefei's experience and strengthen standardization and scientificity to ensure the high-quality development of the city in the near, medium and long term. ? Wang Gaoxiang said.

with? Short-term elements? Support cultivation? Medium and long-term industrial development? After the reform and opening up, it is a common practice for China's underdeveloped areas to achieve leapfrog development, which has been practiced everywhere. ? However, similar to Hefei, it is really rare to realize the introduction and construction of world-class industrial clusters with large-scale investment. ? Wang Gaoxiang said.

some people in the industry put? Hefei model? Summarized as? Local government corporatism? The government is not just social? Night watchman? As a participant in the market, it strongly dominates the local industrial policy, which makes Hefei, a second-tier city, miraculously have the decision-making power to choose industries for first-tier cities.

Huang Hancheng, the author of China City Shuffle and a financial media person, thinks that Hefei adopts this model because? Born lame, I have to make frequent decisions in the process of attracting investment. Adventure? Decision? ，? If we follow the rules and passively undertake, Hefei will never be at the forefront of global manufacturing? .

But every adventure in Hefei? Bet? None of them are lucky, but are based on a deep understanding of industrial laws.

According to local media reports in Anhui, the investment promotion team in Hefei is working for? Talk to companies on the same channel, impress them and introduce them? From city leaders to ordinary merchants, a large number of people are studying various industrial information including industries, industry development reports, prospectus of listed companies and websites of industry associations, so as to cultivate team professionalism. Hefei's investment team, when going out, is not only a government cadre, but also a senior industry observer. ? Lin Fei said.

some analysts believe that the success of Hefei's industrial investment is largely due to the good liquidity of state-owned assets. Can you afford it and put it down? .

Household appliances and automobiles are the first two large-scale industries in Hefei. It stands to reason that such pillar industries and large employment households must be preserved. However, Hefei's thinking is different. Around 25, the competition in the home appliance industry intensified, especially after the private enterprises in the Pearl River Delta began to fight for prices, the Gemini stars Meiling and Rongshida of Hefei's local home appliance industry were sold successively. As a result, factories and jobs remained in Hefei, and the burden of burning money and fighting price wars was thrown to others, and the Hefei municipal government also made a large sum of cash.

It is not difficult to see that the thinking of industrial investment in Hefei is very similar to that of venture capital institutions. They can not only invest money in good projects, but also care about the liquidation and withdrawal of each project, which is difficult for ordinary local governments to do.

Some people speculate that careful calculation is a good habit that Hefei brought out from the hard times. It is precisely because of the extremely high efficiency of capital use that Hefei can develop emerging industries with little support from the central government and the lowest government debt rate in the province.

Now, although Hefei has entered the trillion-dollar club, the challenge is still arduous.

The geographical position of Hefei is not good, and its geographical advantage is even worse than that of Wuhu, the gateway of southern Anhui. Before, the rise of Hefei could not be separated from the overall pull of the Yangtze River Delta, but with other cities in the region? Especially Nanjing? Our efforts will face fierce competition.

Nanjing is 15km away from Hefei, which is the nearest two provincial capitals in China. Nanjing not only has a large economy, but also the planning of Nanjing metropolitan area has included Xuancheng and Maanshan in Anhui.

in the face of Nanjing, which is waking up, with a strong background and many cards, how can Hefei hold the basic plate of Anhui and continue the legend?