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Viewing report
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Chenzhou Export Processing Zone
China Knowledge Press, June 2011, Pages: 25
Chenzhou Export Processing Zone (Chenzhou EPZ) rated “C” by China Knowledge in a research report on China’s industrial real estate published today. The EPZ, also called the Chenzhou Hunan Nonferrous Metal Industrial Park, approved as a state-level export-processing zone by the State Council in 2005. Covering a total area of 3 sq km, it is located to the east of Chenzhou, which lies in the southern part of Hunan Province close to Guangdong Province.
Chenzhou EPZ is the only state-level export-processing zone in Hunan Province. The park has a relatively well-developed transportation system. State Highway 107, the Beijing-Zhuhai Expressway and the Beijing-Guangdong Railway pass through Chenzhou. It takes about a day to go from Chenzhou EPZ to Changsha, Wuhan, Guangzhou or Shenzhen and back.
Chenzhou is well positioned to capture the industrial shift from Pearl River Delta. With the development of Pearl River Delta, the information technology, home appliance, pharmaceutical, and building materials industries have grown rapidly. Some enterprises have shifted their plants from Guangdong, Zhuhai and Dongguan to inland cities in response to rising labor, utility and other operating costs. Chenzhou EPZ is prepared to host businesses shifting from the coastal cities.
Chenzhou EPZ mainly focuses on export-oriented High-tech industries, including information technology, precision machinery manufacturing, new materials, electronic products and nonferrous metal deep processing.
By the end of 2010, there were more than 70 enterprises in Chenzhou EPZ. Most investors in the park are domestic enterprises such as Chenzhou Hualu Digital Technology, Delta Electronics (Chenzhou) and Haze Batteries Inc. Chenzhou Hualu Digital Technology is a large manufacturer of DVD players and digital photo frames.
From January to November 2008, Chenzhou EPZ realized RMB 2.83 billion in gross industrial output and RMB 848 million in value-added industrial output, 51.5% and 10.4% more than in the same period of 2007, respectively. At the same time, contracted foreign investment rose 151.9% year on year to US$57.8 million, while utilized foreign investment rose 154.5% to US$58.4 million. By end of 2009, the cumulated gloss industrial output reached RMB 15.18 billion, GDP reached RMB 5.03 billion, and foreign trade value hit US$334 million.
In 2010, contracted FDI rose by 46.7%, and totaled US$489 million, while utilized FDI increased by 13.8%, and hit US$529 million.
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 requirement for financing to develop its infrastructure, facilities; and even A&P to attract more companies to set up manufacturing plants.
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