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Viewing report
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Cixi Export Processing Zone
China Knowledge Press, June 2011, Pages: 25
Cixi Export Processing Zone (Cixi EPZ) rated “BB” by China Knowledge. The industrial park was set up in 2005 upon receiving the approval of the State Council. It is situated in Hangzhou Bay New Zone, north of Cixi in Zhejiang Province. It lies in the center of the golden economic triangle that consists of Shanghai, Hangzhou and Ningbo in China’s Yangtze River Delta. Hangzhou Bay Bridge, the world’s longest transoceanic bridge, goes across the Cixi EPZ.Shanghai Port and Ningbo-Zhoushan Port, two of the Yangtze River Delta’s major ports, as well as Hangzhou Xiaoshan International Airport, Ningbo Lishe Airport, Shanghai Hongqiao International Airport and Shanghai Pudong International Airport, are located within 1.5 hours’ drive of the zone.
Cixi EPZ was the fourth export-processing zone approved by the State Council in Zhejiang Province after zones in Ningbo, Hangzhou and Jiaxing. The first stage of construction has been completed and the second stage is underway. Close to Cixi EPZ is Cixi Economic Development Zone, which lies on the north bank of the Hangzhou Bay New Area.
The firms in the zone enjoy preferential policies such as exemption from import and export taxes, protective tariffs and tax reimbursements. In January 2009, the zone was granted approval to carry out bonded logistics park functions, allowing enterprises engaged in warehousing, logistics and foreign trade to do business in the zone.
The export zone is negotiating investment plans with Flexitallic and Westar from the U.S. In 2007, Hongyi Electronics from Guangdong Province agreed to invest US$20 million to produce 20 million power connectors in the zone annually.
Industrial parks rated BB are considered attractive at a below-average level. Industrial parks with this rating are typically either in the development stage or are lacking certain important elements. There are 50 with BB rating among 254 national and municipal level industrial parks.
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