CHINA / Invest in Zhejiang

General Survey of Economic Development Zones in Zhejiang

Updated: 2006-11-17 10:42

Currently, there are 8 state-level economic development zones approved by
the State Council, and 54 provincial-level economic development zones of
various sorts and 4 export processing zones approved by Zhejiang
Provincial People's Government. The state-level and provincial-level
development zones and export processing zones, as economic growth points
full of vigor, are where the attraction of foreign funds is the most
highly concentrated and the economy there shows the quickest growth. The
construction of the state-level and provincial-level development zones
and export processing zones greatly promotes the economic development,
structural adjustment and industrial upgrade in the whole province.

In 2005, a total of 1,072 projects with foreign investment were approved
by the 62 state-level and provincial-level economic (technological)
development zones, the contracted foreign capital reached US $7.493
billion USD and the foreign capital in use amounted to US $3.984 billion,
accounting for 31.6%, 46.5% and 51.6% respectively of the total of the
province. Up to the end December 2004, accumulatively 8139 projects with
foreign investment have been ratified in the development zones over the
province, the contracted utilized foreign funds reached US $31.48 billion
and the factually foreign funds amounted to US $14.59billion, accounting
for 25.2%, 50.1% and 50.3% of the total sums over the province
respectively.

Infrastructures in the state-level and provincial-level economic
(technological) development zones and the export processing zones in
Zhejiang are fully constructed, capable of meeting the requirements of a
variety of industrial projects and high- and new-tech industrial
projects. Meanwhile, the development zones are well equipped with soft
environment for investment. For instance, the departments concerned of
the local government have established their offices (personnel) in the
development zones to provide full-range services regarding the
examination and approval, construction and operation of the enterprises
in the zones. These offices and personnel also help the investors with
all the necessary procedures they have to go through. Enterprises with
foreign investment in the development zones enjoy certain preferential
treatment in tax, etc.

Links: State-level Development Zones; Provincial-level Development Zones;
Export Processing Zones

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