Sou Hu Cai Jing·2025-12-02 03:28Core Insights - Hefei has emerged as a leading city in China, with a GDP of 10,252.4 billion yuan in the first three quarters of 2025, reflecting a year-on-year growth of 5.9%, ranking third among cities with a trillion GDP [3] - The city's industrial value-added growth rate reached 15.2%, significantly outpacing other trillion GDP cities, showcasing its robust economic resilience during a downturn [3] - The success of Hefei is attributed not to mere "gambling" on individual companies but to a well-structured industrial ecosystem that emphasizes nurturing industries rather than just acquiring enterprises [3][4] Industrial Strategy - Hefei's approach to the new energy vehicle sector is notable, with a production volume of 1.3761 million units in 2024, ranking second nationally, only behind Shenzhen [4] - The city has strategically developed a full industrial chain, incorporating not just vehicle manufacturing but also critical components like batteries, chips, displays, and artificial intelligence, ensuring stability against market fluctuations [4][5] - The collaborative network among various industries allows for resilience, as downturns in one area can be offset by growth in others, exemplified by the significant increases in lithium-ion battery production (54.5%) and semiconductor components (52.2%) [5] Government Role - The local government acts as a "banking and industrial partner," providing support during challenging times while allowing companies to operate independently once stabilized [10] - Hefei's government has maintained a consistent industrial focus despite changes in leadership, which is crucial for long-term strategic development [10][12] - The clarity in defining the boundaries between government and market roles has been pivotal in Hefei's economic strategy, allowing for a stable environment conducive to growth [12] Long-term Vision - Hefei's rapid ascent in provincial rankings over the past two decades highlights its role as a core engine for resource retention in Anhui province [7] - The city has strategically aligned its industrial focus with national priorities, such as semiconductor development, which has garnered governmental support [9] - The presence of institutions like the University of Science and Technology of China provides ongoing intellectual resources, further bolstering Hefei's industrial capabilities [9]