Shanghai to Set Up New Industry Zone

The municipal government of Shanghai has decided to build a comprehensive industry zone, with focus on high technology, in the southern part of the city.

The zone will be established on the basis of the 20-square kilometer Fengpu Industrial Zone in Fengxian County, according to the decision made on Monday.

The Shanghai Industry Investment Group and Fengxian County government will make an investment of 200 million yuan (about 24 million U.S. dollars) to set up a company for the planning, development, land lease and infrastructure construction, as well as attracting of investments in the zone.

The zone is the third in Shanghai, China's largest industrial and commercial center, following the Zhangjiang High-tech Park and Caojing Chemical Industry Zone.

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