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Zambia-China Trade Zone generates $500m in tax revenue

(Xinhua)

13:39, February 04, 2012

BEIJING - The Zambia-China Economic and Trade Cooperation Zone (ZCCZ) has generated around $500 million in tax revenue over the last five years, according to a press release from a ceremony held Friday to celebrate the zone's five-year anniversary.

Data from the press release showed that the zone has realized $4.35 billion in total sales revenues and created 12,000 jobs for Zambia in the past five years.

The ZCCZ was established in Zambia in February 2007 as China's first overseas economic and trade cooperation zone established in Africa, as well as the first multi-facility economic zone created by the Zambian government.

At present, the zone has attracted 17 companies, which have invested up to $900 million in the zone.

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