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Jiaxing Export Processing Zone
China Knowledge Press, June 2011, Pages: 25
Jiaxing Export Processing Zone rated “C” by China Knowledge in a research report published today. The industrial park, approved by the State Council in March 2003, has a total area of 2.98 sq km. It is one of the three state-level export-processing zones in Zhejiang.
In Jan 2010, Jiaxing Export Processing Zone (Zone B) was set up, which covers an area of 1.65 sq km. By Aug 2010, the contracted FDI reached US$ 223 million.
The zone, aiming to be the distribution center for high-tech industries in Hangzhou Bay, encourages investment in the machinery, electronics, fine equipment and tool manufacturing industries.
The Jiaxing Export Processing Zone’s first project was Jiaxing Xunlei Bearing, which is capable of producing 120 million mini bearings annually. In the first half of 2008, the zone attracted 15 foreign-funded projects, with a total investment of over US$71 million from abroad and RMB 200 million domestically. POVOS, Active-7, Jiasheng Auto Parts and Dafeng Refrigerants have already set up in the zone.
Industrial parks rated C are viewed as least attractive. These industrial parks are not recommended for investment. There are 14 municipal level ‘C’ rating industrial parks among 254 ones rated by China Knowledge since 2003. There is potential for greater financing to develop its infrastructure, facilities; and even A&P to attract more companies to set up manufacturing plants.
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