Port Bonded Zone Sets West Development FundThe bonded zone at the Tianjin Port in north China recently set up a West Economic Development Fund to encourage investments to and from China's western regions.According to a decision made by the administration of the bonded zone, 8 percent of its disposable financial revenue will go to the fund mainly to support enterprises in the zone which set up raw material processing branches or make rapid progress in sales in western provinces and regions. The fund will also provide financial assistance to those who invest in the bonded zone. All provinces and regions in China's west have enterprises in the zone. The zone has an area of 3.8 sq. km and fixed assets of 3. 9 billion yuan (US$480 million). Some 4,000 enterprises from 86 countries are now operating in the zone which has had trade ties with some 100 countries and regions around the globe. |
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