Economic Zones in East China Province Post Double Digit Growth

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Last updated at: (Beijing Time) Sunday, November 25, 2001

Economic Zones in East China Province Post Double Digit Growth

The economic development zones in the coastal province of Shandong, east China, posted double digit growth during the first three quarters of this year, the latest statistics revealed.

The economic development zones in the coastal province of Shandong, east China, posted double digit growth during the first three quarters of this year, the latest statistics revealed.

The industrial output for the zones totaled 70.7 billion yuan (8.63 billion U.S. dollars) during the nine month period, an year- on-year growth of 35.6 percent, according to statistics released by the provincial government.

The zones, officially known as economic development zones, are the fast growing part of the province due to preferential policies and better infrastructure.

The zones include purely industrial parks, zones for commercialization of scientific and technological achievements, and those for researchers with overseas training background.

During the period, the zones across the coastal province, approved 1,633 projects involving a total investment of 20.13 billion yuan (2.4 billion U.S. dollars), up 51.5 percent over the same period of last year and 11.2 percent higher than the provincial average.

The sum includes 1.51 billion U.S. dollars in contractual overseas investment, with 715 million U.S. dollars already in place during the period.

The investment involves such industries as electronics, information technology, fine chemistry, bio-engineering, new material and electromechanical integration.