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Viewing report
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Ningbo Free Trade Zone/Ningbo Export Processing Zone
China Knowledge Press, June 2011, Pages: 25
Ningbo Free Trade Zone (Ningbo FTZ) rated “A” by China Knowledge in a research report published today. The industrial park was set up in 1992 and covers an area of 2.3 sq km, while Ningbo Export Processing Zone (Ningbo EPZ), which covers an area of 3 sq km, was set up in June 2002. They are located within Ningbo Economic and Technical Development Zone adjacent to Ningbo Bonded Logistics Park.
The two zones are situated to the south of Beilun Harbor, which is China’s biggest natural deep-water harbor and one of the major harbors of Ningbo-Zhoushan Port. Ningbo-Zhoushan Port is the mainland’s fourth-largest port in terms of container throughput.
In 2010, Ningbo FTZ’s GDP was RMB 12 billion. Its foreign trade value hit US$13.36billion. The utilized FDI in the zones amounted to US$95 million.
The only free trade zone in Zhejiang Province, Ningbo FTZ engages in foreign trade, export processing and manufacturing and bonded warehousing. It also has special parks for high-tech industries, which include the Electronics and Information Industry Park, the Semiconductor and Photoelectric Industrial Park, Ningbo International Software Park, the Precision Machinery Industrial Park and the Overseas Chinese Scholars Pioneering Park. Large companies including Exxon, Mannesmann, Xerox, Dow and Sony have set up business in the zone.
Ningbo EPZ focuses on the development of IC, information appliances, and fine machinery manufacturing industries. Taiwan-based LCD giants AOC and Chimei have already launched enterprises in this zone. It has become the largest area for Taiwanese investment in Ningbo.
Industrial parks rated A have above-average investor appeal. Basic conditions are adequate, but improvements are still needed in some areas. There are 50 single A rated industrial parks among 254 rated by China Knowledge since 2003.
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