Zhejiang Province eyes more investment from HK

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Last updated at: (Beijing Time) Monday, January 12, 2004

Zhejiang Province eyes more investment from HK

Zhejiang Province in eastern China is to introduce 148 large-sized projects aimed at luring investment from Hong Kong.

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Zhejiang Province in eastern China is to introduce 148 large-sized projects aimed at luring investment from Hong Kong.

Lu Zushan, governor of Zhejiang Province, announced here at a press conference that his province hopes to cash in on huge opportunities offered by the implementation of the Chinese Mainland/Hong Kong Closer Economic Partnership Arrangement (CEPA) beginning as of Jan. 1 this year.

Lu said the 148 projects cover industry, agriculture, tourism, service, logistics and infrastructure sectors. The total investment for those projects is estimated at about 5 billion yuan(605 million US dollars).

He said Hong Kong is Zhejiang's top overseas investor which invested 1.15 billion US dollars in the province in 2002, accounting for one third of Zhejiang's overseas investment that year.

Meanwhile, Hong Kong is also Zhejiang's fourth largest exporting destinations and Zhejiang's export volume to Hong Kong stood at 1.41 billion US dollars in 2002.

The governor is here for the ongoing Hong Kong-Zhejiang Week which began Sunday.

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