Ikea pictured in Gangzha district, Nantong [Photo/ntgz.gov.cn]

A new branch of Sam's Club, Walmart's exclusive members-only brand of stores, opened in the Wushui business area of Gangzha district in Nantong, on Dec 25.

The opening of the new store follows the arrival of other high-profile names in retail, including Wanda, Ikea, Auchan, and Decathlon. 

Indeed, the whole district is thriving. In recent years, Gangzha has seen rapid economic growth thanks to its focus on developing an office and business building cluster, two major business areas, three major tourism industries and four industrial parks each dedicated to a particular industry (namely logistics, foreign trade, finance, and productive service sectors).

Thanks to the work of the district's authorities –– a modern service industrial system represented by commerce, modern logistics, tourism and leisure has formed.

And the booming new industries are bringing real benefits to the city, with tax revenues from the office and business building cluster jumping to 530 million yuan ($77.09 million) in 2016, up from less than 40 million yuan in 2011.

Signs of the district's success are everywhere. 

The two major business areas – Wushuihui and North Avenue –– now boast some of the world's biggest retail brands. 

Tourism revenues reached 125 million yuan with 1.23 million people visiting the area in 2017, representing 26 times the amount of revenue and 24 times the number of people for 2010. 

Three key areas for tourism –– Tangzha Ancient Town, Jiaoye Park and Wushui business and recreational area, have gradually formed and now welcome crowds of visitors each day.

Revenues from major logistics businesses rocketed to 6.2 billion yuan in 2018 with hooyo.com, a logistics platform, recording a trade volume of 3 billion yuan. 

In the tertiary sector of the economy, the total volume of service industry transactions in the district has been increasing for many years, and the sector has now progressed to a new stage of development.  

The proportion of added value from the local service industry increased from 25 percent in the early part of the 12th Five-Year Plan period (2011-2015) to 43.9 percent in 2017, an increase of nearly 20 percentage points. 

Grasping the opportunities brought by the Belt and Road Initiative, the construction of the Yangtze River Economic Belt and Jiangsu Yangtze River City Group, Gangzha district will next develop production service industries such as science and technology services, financial services and modern logistics, refine tourism, the cultural creative industries, and modern commerce industries –– with the aim of building the district into a leading area for the modern service industry.

By the end of 2020, the proportion of added value from the service industry in terms of local GDP is expected to reach 50 percent; the output value of related enterprises and clusters will amount to 10 billion yuan. And taxable sales from the industry are expected to exceed 100 billion yuan.