Private Capital Flows into Zhejiang Infrastructure sector

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Last updated at: (Beijing Time) Thursday, February 21, 2002

Private Capital Flows into Zhejiang Infrastructure sector

The prosperous eastern China province of Zhejiang has become a leading beneficiary of booming private investment.

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The prosperous eastern China province of Zhejiang has become a leading beneficiary of booming private investment.

An economic official with the Zhejiang provincial government said that about 700 billion yuan (85 billion U.S. dollars) of private capital has been pumped into various sectors of the local economy, especially the infrastructure sector, since 1996, rankingfirst among other provinces.

In Zhejiang, where the private economy has been thriving, private investment in infrastructure projects amounted to 590 billion yuan (72 billion U.S. dollars) in 1996-2000, accounting for 63.8 percent of the province's total investment in that period.

Private investment also accounts for two-thirds of the investment in Zhejiang's 83 industrial parks.

Active private investment has helped the province maintain rapid and healthy economic development during the past decade.

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