1. Introduction to the Project

1.1 Project background

1.1.1 Product introduction

With the acceleration of digital transformation, the demand for the digital technology in various industries continues to rise. The products and services of this project are expected to demonstrate broad application prospects in multiple fields such as government affairs, education, healthcare, and finance, and are expected to build strong market competitiveness in Changchun and surrounding areas, thereby promoting the vigorous development of regional digital industries.

The project will integrate Tencent’s technological advantages and resources in digital content, cloud computing, artificial intelligence, big data and other fields, and strive to create a comprehensive digital industry innovation platform. The platform will cover multiple core components such as a digital content creation center, cloud service base, and intelligent application research and development center.

1.1.2 Market prospect

(1) Current situation of digital industry innovation bases

The scale of China’s digital economy industry continues to grow, with a scale of over 55 trillion yuan in 2023, a growth rate of about 9.6%, showing a development trend of “dual improvement of quantity and quality”. As the core industry of the digital economy, digital industrialization provides digital technology, products, services, infrastructure, and solutions for the digital development of industries, as well as various economic activities that rely entirely on digital technology and data elements.

Digital industrialization involves products and services created by the digital technology, including electronic information manufacturing industry, information communication industry, software service industry, Internet industry, etc. These industries emerged only after the emergence of digital technology. In recent years, China has attached great importance to digital development, and related investment and expenditure have continued to grow rapidly. The application of advanced digital technology in various fields continues to deepen, playing an important role in promoting modernization of governance and ensuring social security and stability, while also creating favorable conditions for the rapid development of the industry.

With the continuous advancement of the digital technology, the development trend of digital industrialization has shown more obvious diversification and specialization. On the one hand, digital technology is gradually penetrating into traditional industries, driving their transformation towards digitization and intelligence; on the other hand, emerging digital industries such as e-commerce and digital content are also rapidly rising, becoming new drivers of economic growth.

In this context, the role of digital industry innovation bases as key platforms for promoting the development and application of digital technology is becoming increasingly significant. The innovation base not only provides a favorable environment for the research and innovation of digital technology, but also builds a bridge for the industrialization and marketization of digital technology. By gathering resources such as talent, capital, and technology, innovation bases can effectively promote the cluster effect of digital industries and form competitive industrial clusters.

In addition, digital industry innovation bases have also played an important role in promoting regional economic development. By attracting and cultivating digital industry related enterprises, innovation bases can drive industrial upgrading and economic structure optimization in surrounding areas, injecting new vitality into the sustainable development of regional economy. At the same time, innovation bases can also promote the integration of industry, academia, and research through cooperation with universities and research institutions, and accelerate the transformation of scientific and technological achievements.

(2) Development prospects of digital industry innovation bases

China has nurtured a group of leading enterprises with international competitiveness in the field of digital industrialization, which have made significant achievements in cutting-edge technologies such as cloud computing, big data, artificial intelligence, and blockchain. At the same time, the deep integration of digital technology and traditional industries has given rise to new business models and service formats, such as intelligent manufacturing, remote healthcare, online education, etc., which have greatly promoted the transformation and upgrading of industries.

However, with the development of the market, digital industry innovation bases also face some challenges. For example, the issues of data security and privacy protection are becoming increasingly prominent, and it is necessary to strengthen the construction of relevant laws and regulations to ensure the healthy and orderly development of the digital industry. In addition, the issue of digital divide cannot be ignored. It is necessary to promote the popularization and application of digital technology through policy guidance and technological innovation, and narrow the digital gap between urban and rural areas and regions.

According to the China Digital Economy Development Index Report (2024) and the China Digital Economy Development Report in 2024, the scale of China’s digital economy will reach 53.9 trillion yuan in 2023, accounting for 42.8% of GDP and contributing 66.45% to GDP growth. It is expected that by 2026, the scale of China’s digital economy will exceed 60 trillion yuan, and the average annual growth rate is expected to remain above 10%.

The market demand for digital industry bases mainly includes the following aspects:

The demand for digital transformation: With the deepening of digital transformation, the demand for digital industrialization services in various industries is increasingly strong. Enterprises are increasing their investment in digital transformation, hoping to improve production efficiency, optimize operational processes, and enhance market competitiveness by introducing digital technology.

Technological innovation demand: Technological innovation is the core driving force for the sustainable development of the digital industrialization market. The continuous development and application of emerging technologies such as artificial intelligence, big data, cloud computing, Internet of Things, and blockchain have provided strong technical support for the digital industrialization market and promoted its rapid growth.

Policy support demand: The Chinese government attaches great importance to the development of the digital industrialization market and has provided a favorable development environment for the digital industrialization market through a series of policy measures. These policies cover multiple aspects such as digital infrastructure construction, data resource development and utilization, and innovative application of digital technology, providing strong guarantees for the rapid development of the digital industrialization market.

Infrastructure demand: Digital infrastructure construction is an important support for digital industrialization. With the application of new technologies such as 5G and industrial Internet, the demand for digital infrastructure is increasing to support more efficient digital services and applications.

Service demand: The demand for digital technology, products, services, infrastructure, and solutions is increasing in various industries. Enterprises need these services to enhance their digital capabilities, achieve business innovation, and improve efficiency.

Looking ahead, the digital industry innovation base will continue to play an important role in promoting the development of the digital economy. Through continuous technological and model innovation, the digital industry is expected to become a new engine for high-quality economic development in China. Meanwhile, with the continuous deepening of global digital transformation, China’s digital industry innovation base will actively participate in international competition and cooperation, contributing Chinese wisdom and solutions to the development of the global digital economy.

In summary, as the core driving force for the development of the digital economy, the digital industry innovation base is facing unprecedented development opportunities. Through continuous technological innovation, policy optimization, and international cooperation, the digital industry innovation base will inject new vitality into the development of the digital economy in China and even globally, promoting the construction of a more open, inclusive, secure, and prosperous digital world.

1.1.3 Technical analysis

Tencent has advanced technology research and development capabilities and rich practical experience. The project will utilize Tencent’s leading cloud computing technology to provide efficient and stable cloud services; it utilizes the artificial intelligence technology to achieve intelligent analysis and decision-making; it mines the value of data through big data technology. At the same time, it will continuously innovate and upgrade our technology to maintain our leading position in the industry.

1.1.4 Advantageous conditions of project construction

(1) Policy advantages

The Three-Year Action Plan for the Development of Digital Economy in Changchun New Area has been officially launched. In the next three years, through the implementation of the 556 Project for the Development of Digital Economy, efforts will be made to achieve the initial scale of digital industrialization and industrial digitization in Changchun New Area by the end of the 14th Five-Year Plan period. The advantages of digital resources will be effectively utilized, the construction of digital infrastructure will be more perfect, and the regional agglomeration effect will be significantly enhanced, becoming a new engine for promoting high-quality economic and social development in the new area. By 2025, the main business income of the core industries of the digital economy in the entire region will have doubled compared to 2022, and the proportion of digital economy added value to the regional economic GDP will have increased by 4 percentage points.

As a national level new area, Changchun New Area enjoys policy support from both the national and local governments.

Changchun New Area, as the main battlefield and battlefield for the economic development of Changchun City, continuously runs the “New Area Speed” on the new track of digital economy, seizes the high ground of digital industrialization, cultivates new driving forces of digital economy, and enhances the scale and level of digital industry. Around the development pattern of “one area, two circles, and multiple parks”, Changchun New Area focuses on building a core area for digital economy development, with a total area of about 8.5 square kilometers. It focuses on key industries such as artificial intelligence, blockchain, big data, and cloud computing, and carries out strong chain, extended chain, and supplementary chain projects for various sub sectors of the digital economy. It actively introduces leading domestic digital economy enterprises and cultivates a local digital economy core industry ecosystem.

(2) Industrial advantages

Changchun City has taken advantage of the “digital” trend to build a number of digital economy industrial parks, initially forming a cluster of digital economy enterprises. Changchun Big Data Deep Processing Base, Changchun Computing Power Center, and Changchun Data Trading Center have successively operated, forming a diversified digital industry pattern including optoelectronic information, artificial intelligence, electronic components, big data, e-commerce and other formats.

In 2023, the digital transformation and upgrading campaign for industrial enterprises in Changchun City was officially launched, and the Implementation Plan for Digital Transformation and Upgrading of Industrial Enterprises in Changchun City was formulated to accelerate the implementation of the Policies for Accelerating Digital Transformation and Upgrading of Industrial Enterprises in Changchun City. 556 industrial enterprises started digital transformation and upgrading. From 2023 to 2025, it will achieve full coverage of digital transformation and upgrading for 1286 industrial enterprises above designated size in the city.

Changchun New Area has a certain industrial foundation in the fields of automobiles, equipment manufacturing, biomedicine, etc. The combination of these industries with the blockchain technology can bring new development opportunities and promote industrial upgrading.

Changchun City has achieved certain development in the fields of big data, cloud computing, etc. These data resources can provide strong support for blockchain projects and promote the application of the blockchain technology in data sharing, privacy protection, and other aspects.

(3) Location advantages

The New Area is located in the geographical center of Northeast China and the core hinterland of Changchun-Jilin-Tumen Pilot Zone. It is an important node of the Harbin-Dalian Economic Belt and China-Mongolia-Russia Economic Corridor. The New Area integrates multiple three-dimensional transportation such as aviation, railway, highway, and light rail, and has Longjia International Airport, known as the “Northeast Asia Aviation Transportation Hub”. It can reach 2/3 of the cities in China in 1.5 hours and fly to major cities around the world in 5 hours. The Beijing-Harbin and Hunchun-Ulanhot expressways intersect here, while railway arteries such as the Beijing-Harbin and Harbin-Dalian expressways run through the entire area.

(4) Talent advantages

The entire area gathers 55 national level research and development institutions, 5 national key laboratories (9 in the province), and 100 provincial and ministerial-level key laboratories (115 in the province); there are 5 national-level enterprise technology centers and 67 provincial-level enterprise technology centers; there are 5 academician workstations, accounting for 35.7% of the province’s total; 26 postdoctoral workstations, accounting for 45.6% of the province’s total; two studios, including the Scientist Studio, account for 1/5 of the province’s total; there are 28 provincial-level transfer demonstration institutions, accounting for 54% of the province’s total. It can provide talent support for the project.

1.2 Contents and scale of project construction

Covering an area of 40000 square meters, the project aims to establish the digital content creation park, cloud computing data center, intelligent research and development building, etc. The project will cover the main industries and fields of Changchun New Area, including but not limited to finance, logistics, supply chain, healthcare, government services, etc.

1.3. Total investment of the project and capital raising

The total investment of the project is 200 million yuan, including the construction investment of 150 million yuan.

1.4 Financial analysis and social evaluation

1.4.1 Main financial indexes

After the project reaches the production capacity, its annual sales income will be 144.92 million yuan, its profit will be 43.47 million yuan, its investment payback period will be 6 years (after the tax, including the construction period of 1 year) and its return on investment will be 21.7%.

Note: “10 thousand yuan” in the table is in RMB.

Promoting industrial upgrading: Promote the rapid development of Changchun’s digital industry, drive related industries to transform towards high-end and intelligent, and enhance the overall industrial level.

Creating employment opportunities: The operation of digital content creation parks, cloud computing data centers, and intelligent research and development buildings will attract various professionals and create a large number of high skilled and high-income job opportunities.

Enhancing the innovation capability: Stimulate regional innovation vitality, attract more innovative enterprises and talents to gather, create a good innovation atmosphere, promote technological progress and application innovation.

Assisting in the construction of smart cities: Provide strong technical support and data services for the development of smart cities in Changchun, and improve urban governance and public service levels.

Promoting cultural prosperity: Digital content creation parks are conducive to enriching cultural products and content, promoting cultural dissemination and exchange, and enhancing urban cultural influence.

Strengthening regional cooperation: It will become an important platform for regional cooperation, attracting resource aggregation and coordinated development from surrounding areas, and enhancing Changchun’s radiating and driving role in the regional economy.

Cultivating digital talents: Through project implementation and operation, it can cultivate a large number of digital technology related talents for the local area and enrich the talent reserve.

Enhancing urban visibility: As an influential digital industry base, Changchun can increase its visibility and reputation nationwide and even globally.

1.5 Cooperative way

Sole proprietorship, joint venture or cooperation

1.6 What to be invested by the foreign party

Funds, and other methods can be discussed in person.

1.7 Construction site of the project

Changxin Innovation Valley of Changchun New Area (At the intersection of North Yuanda Street and Longhu Avenue, Beihu Development Zone, Changchun New Area, east of He’an Street)

1.8 Progress of the project

The project proposal has been prepared.

2. Introduction to the Partner

2.1 Unit basic information

Name: Tencent Holdings Limited

Address: 2681 Cricket Square Hutchins Drive, Cayman Islands

2.2 Unit overview

Overview of Tencent Holdings Limited:

Tencent Holdings Limited is a globally influential technology company, and its main profile is as follows:

Tencent was founded in 1998 and is headquartered in Shenzhen, China. It carries out diversified businesses in the Internet and technology fields, covering social networking, entertainment, financial technology, cloud computing, digital content, online games and other sectors.

It has numerous well-known products and services, such as WeChat, QQ and other social platforms, with a huge user base; Tencent Games holds an important position in the global gaming market; Tencent Video and other content platforms provide rich audiovisual resources.

Tencent is also actively expanding into cutting-edge technology fields such as cloud computing and artificial intelligence, driving business development and industry progress through technological innovation.

Globally, Tencent, with a high reputation and influence is one of the leading enterprises in China’s Internet industry, and plays an important role in promoting the development of the digital economy and social progress.

Overview of Changchun New Area:

Changchun New Area is the 17th national level new area approved by the State Council in 2016, and the only national level new area in Jilin Province. It enjoys sub provincial administrative management and approval authority, with an approved area of 499 square kilometers. It consists of two national level development zones, Changchun New and High-tech Zone and Airport Economic Demonstration Zone, as well as Beihu Science and Technology Development Zone, one provincial-level development zone. It has one township, seven streets, and a permanent population of about 580000. On July 23, 2020, General Secretary Xi Jinping visited Changchun New Area for inspection and fully affirmed the development of the new area, with earnest expectations for “taking the path of intensive and connotative development”.

Accurately grasp the development layout of “1310”, focus on building a modern industrial system of “311X”, concentrate efforts on accelerating the construction of ten major industrial parks including Medicine Valley, Optical Valley, new materials, industry-education integration, financial science and technology innovation, modern logistics, equipment manufacturing, digital economy, airport economy, and smart cultural tourism, continuously strengthen the three characteristic industries of biopharmaceuticals, optoelectronic information, and new materials of “two valleys and one base”, optimize advanced equipment manufacturing industry, activate modern service industry, focus on connecting industrial chains, value chains, and supply chains, target chain owners, strengthen chain clusters, ignite the trend of coordinated development of “ten parks”, promote enterprise agglomeration, industrial clusters, and strengthen economic strength.

The New Area is the “National Torch Plan Optoelectronic Information Technology Industrialization Base” and has become the main engine and preferred investment destination for the development of the optoelectronic information industry in the province. It has gathered more than 360 optoelectronic information enterprises, including 23 large-scale enterprises. It has 8 optoelectronic industrial parks and platform carriers, more than 300 independent intellectual property patents, and gathers 28 high-precision and cutting-edge scientific and technological achievements. It has built a comprehensive and high-end optoelectronic information industry pattern of “screens, terminals, network, cloud, and satellites”. Changguang Satellite Technology Co., Ltd. has become the first unicorn enterprise in Northeast China, and “Jilin No. 1” has achieved a network of 108 satellites, becoming the world’s largest sub-meter commercial remote sensing satellite constellation; Guanghua Microelectronic Co.， Ltd. and Yuheng Optic Co., Ltd. have been awarded as national manufacturing industry single champion demonstration enterprises, and Xida Electronic Co., Ltd. has launched the world’s first 120-inch ultra-large TV.

Business initiatives are constantly innovating. Aiming at the goal of “the best business environment in Northeast China and the first-class in the country”, it will continue to deepen the reform of “streamlining administration, delegating powers, and improving services”, implement a number of practical and innovative reforms that can be replicated and promoted, such as the “standard land+commitment system”, “new industrial land (M0)”, and “cross-provincial connectivity”. It will streamline the implementation process and speed up the approval process. The New Area has been rated as a model unit for business environment construction in the province for six consecutive years, ranking 11th in the national new area and first in Northeast China in the first national evaluation.

Changchun New Area has always focused on the ideas and needs of enterprise development, continuously improving and introducing 12 preferential policies for enterprises, including promoting industrial development, talent introduction, financial aggregation, and technology transfer. From entrepreneurship and innovation and talent introduction subsidies to the application of “innovation vouchers”, it has been approved by the Ministry of Public Security’s special policy on the entry and exit of foreign talents, gradually building a policy support system with the wider coverage, stronger targeting, and higher values.

Looking towards the future, it aims to boost our determination to work hard and achieve the goal of achieving a GDP of 142 billion yuan and an industrial scale exceeding 200 billion yuan by the end of the 14th Five-Year Plan. It will accelerate the construction of the “311” modern industrial system, fully implement the development “1310” strategy that is, “one zone leading, supporting by three areas , and linking of ten parks”and, actively explore the management system of “management committee+park+company”, optimize and develop the new and high-tech area, expand and strengthen the Beihu Zone, accelerate and implement the airport zone, comprehensively build a modern industrial and technological new city that leads the comprehensive revitalization of Northeast China, and continuously create a new situation of high-quality development.

2.3 Contact method

Contact person: Li Mingyan

Mobile phone: +86-18244007878

Fixed phone: +86-431-80798198

E-mail: 109612228@qq.com

Contact method of the city (prefecture) where the project is located:

Contact unit: Changchun Cooperation and Exchange Office

Contact person: Zhang Junjie

Tel: +86-15704317930

Fax: +86-431-82700590

E-mail: xmc82763933@163.com