Market regulator gives Hengqin ad park mighty boost

China's State Administration for Market Regulation (SAMR) has increased the effectiveness of Hengqin International Advertising Creative Industry Base by designating it as a National Advertising Industry Park.

SAMR regulates, among other things, the quality, prices, and intellectual property rights for prepackaged food, drugs, and cosmetics products.

Although there are other national advertising parks, including one in Guangzhou, Hengqin's is the first in a China Pilot Free Trade Zone. The base, or park, was established in 2013 to advance innovative development of Hengqin's advertisement industry; cultivate highly professional, innovative, and internationally competitive ad firms; and boost development.

It currently operates at Macao-Hengqin Youth Entrepreneurship Valley (Inno Valley HQ). Its products are highly competitive due to a technological approach that utilizes the internet, artificial intelligence, virtual reality, augmented reality, and big data.

Hengqin International Advertising Creative Industry Park [Photo provided by Hengqin International Advertisement Park]

The first phase of a branch park is nearing completion by Hong Kong-based Lai Sun Group in Novotown. An integrated tourism and entertainment facility, Novotown promotes state-of-the-art technology and innovative concepts. Five phases are expected to expand total park area to 112.8 hectares (279 acres).

The park houses corporate giants from Hong Kong, Macao, and Guangdong Province. Among them are Guangdong Advertising Group Co, Inyoung Group, Asiaray Media Group, and the China Brand Strategic Institute.

Last year, 157 companies set up operations there generating combined output value exceeding 2.8 billion yuan ($412 million). Statistically, park advertising revenue accounts for 86 percent of Hengqin's and 59 percent of Zhuhai's total.

Sustained development is expected as there are professional operators and platforms that provide one-stop services for enterprise registration, small- and micro-business incubation, financing, and product display.

The Several Measures for Promoting the Development of the Advertising Industry in Hengqin New Area also provide key support to the park and its enterprises.