|
|
 |
|
Viewing report
|
|
|
|
Hainan Yangpu Economic Development Zone
China Knowledge Press, June 2011, Pages: 25
Hainan Yangpu Economic Development Zone (Yangpu EDZ) rated “BBB” by China Knowledge in a research report on China’s industrial real estate published today. The designated Industrial park is a state-level economic development zone that enjoys the preferential policies of a free trade zone. It was approved to be a state-level development zone in 1992 and commenced operations in 1993.
Located in Danzhou, Yangpu EDZ lies on the Yangpu Peninsula northwest of Hainan Province. The zone is 128 km from Haikou and 145 km from Haikou Meilan International Airport. Surrounded by sea on three sides, it is home to Yangpu Port, which is 1,329 km from Singapore, 389 km from Hong Kong, 1,693 km from Osaka, 151 km from Haiphong and 488 km from Guangzhou.
Hainan is rich in oil and gas reserves. According to a preliminary estimation, the oil deposits in Hainan total between 23 billion and 30 billion tons and account for one third of the nation’s total. Additionally, the Yinggehai Basin in South China Sea, which is 200-300 km south of Yangpu, has gas deposits totaling about 600 billion cubic meters.
In 2009, Yangpu EDZ realized GDP of RMB 10.25 billion, up 6.99% year on year. The value-added industrial output fell 15.33% to RMB 6.17 billion. During the year, the park’s utilized FDI fell 91.35% to US$8 million, while the export value rose 103.45% to US$590 million.
In light of its rich resources of oil, natural gas, tropical plants, rubber, sea salt, quartz sand, iron ore and titanium ore, Yangpu has chosen to establish its pillar industries in petrochemicals, paper pulp products, biopharmaceuticals, food processing, glass products, building materials and export processing.
Surrounding Yangpu in Wenchang, Yacheng, Dongfang and Ledong are 14 oil and gas fields that have 69.4 million tons of crude oil reserves and 277.8 billion cubic meters of natural gas reserves. The annual output of crude oil is 1.97 million tons, while annual gas output stands at 6 billion cubic meters. Plans have been made to develop Yangpu EDZ into a petrochemical industrial base and commercial petroleum storage base for South China. A petrochemical park has been set up in Yangpu EDZ to promote the petrochemical industry and focus on ethane projects.
Sinopec is the largest investor in this sector, and has built a refinery with a capacity of 8 million tons and a styrene plant with a capacity of 80,000 tons. Other major investors include China National Offshore Oil Corp and Indonesia’s APP Group.
Yangpu EDZ enjoys free-trade preferential policies, an advantageous geographic location and an extensive transportation system. Therefore, besides petrochemicals, Yangpu EDZ also plans to develop commercial petroleum storage projects, focusing on the markets of South Asia, Japan and South Korea.
Hainan is a large market for the packaging and printing industry. However, because Hainan doesn’t produce enough paper products to meet demand, two thirds of the business goes to the Pearl River Delta. To establish in this area, Yangpu EDZ plans to work on developing the paper product industry. Yangpu Printing & Packaging Zone, which covers an area of 533,600 sq m, was established for this purpose. It is mainly used for paper processing, printing and bonded storage. The Jiangzhilin Paper Bulk Corp is currently the largest investor in this field.
The latest figures show that in the first half of 2010, the export value rose 69.26% to US$392.68 million. In the first three quarters of 2010, value-added industrial output of Yangpu EDZ amounted to RMB 9.33 billion. The utilized FDI amounted to US$50.43 million.
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.
|
|
|
|
