- Published: October 2011
Shanghai Qingpu Export Processing Zone
- Published: June 2011
- Region: China
- 25 pages
- China Knowledge Press
The State Council approved Shanghai Qingpu Export Processing Zone (Shanghai Qingpu EPZ) rated “BBB” by China Knowledge. It is the fourth export-processing zone in Shanghai and it covers an area of 3 sq km. The zone is located in Qingpu District about 20 km from downtown Shanghai. Qingpu District lies southwest of Shanghai, at the intersection point of Shanghai, Jiangsu Province and Zhejiang Province.
Shanghai Qingpu EPZ encourages investment in automobiles and auto parts, electronic information, new materials, fine machinery, manufacturing equipment and high-tech industries. In 2010, the foreign trade value of the zone reached US$1.91 billion.
By the end of 2008, a total of 16 foreign-invested projects had established in the zone. Investors include Pratt & Whitney, Alpha-Cure, Schlumberger, Unielec, Hitachi, Parlex, BASF, Wafer Works, Sofima, CPS and Gateway Technology. In 2010, the contracted FDI reached US$ 138 million.
French firm Schlumberger, the world-famous oilfield services provider, inaugurated Stage II of Schlumberger Oilfield Equipment (Shanghai) Co Ltd in Qingpu EPZ in 2007. Stage I commenced operations in 2006. With investment totaling US$17 million, the project is expected to generate US$100 million worth of export value.
U.S.-based Pratt & Whitney, a leading company in the design and manufacture of aircraft engines and space propulsion systems, agreed in 2005 to set up a joint venture called Shanghai Pratt & Whitney Aircraft Engine Maintenance Co Ltd with China Eastern Airlines in Shanghai Qingpu EPZ. The venture, established in 2007, involved a total investment of US$99 million and its facility covers approximately 23,000 sq m. The JV aims to provide maintenance as well as repair and overhaul services to airline customers in China and the Asia- Pacific region.
Industrial parks rated BBB are considered attractive at an average level. They have less-than-adequate investment conditions and may have some flaws. They may be promising industrial parks but there are uncertainties regarding future development. Most of these are industry specific theme park that caters to fewer industries. There are 60 such BBB rating out of 254 national or municipal-level industrial parks where many are seeking to transform or upgrade its facilities to attract new economy industries.
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Pratt & Whitney, Alpha-Cure, Schlumberger, Unielec, Hitachi, Parlex, BASF, Wafer Works, Sofima, CPS and Gateway Technology