The Ningbo Economic and Technological Development Zone (NETDZ), a major state-level development zone in east China's Zhejiang Province, recently adopted a series of favorable policies to encourage the development of information technology, biochemicals and precision machinery industries.

These policies include cheaper land, tax breaks, and more loans.

A special fund will provide financing to high-tech research projects and start-ups in the zone.

The NETDZ, set up in 1984 with the approval of the State Council, has spent over 11.2 billion yuan to improve infrastructure facilities.

Investors from more than 30 countries, including Japan, the United States and Singapore, have already established over 400 subsidiaries in the zone, with total contractual capital approaching some 3.23 billion US dollars.

Of these enterprises, 74 involve a total investment of at least10 million US dollars each.