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Development of Shanghai's Hangzhou Bay Provides More Opportunities
The series of development projects being implemented in Shanghai's Hangzhou Bay has entailed chain investment effect. Fengxian County of the Hangzhou Bay has set off an investment upsurge for two successive years. In a recent investment invitation fair, the county once again introduced nearly 2.6 billion yuan of domestic and foreign investment.
Economists said that following the constructions of Baoshan Steel Group (Baogang) in the north and Pudong in the east, Shanghai will bring about a new economic growth point by developing the Hangzhou Bay in the south. Currently, there has emerged an obvious tendency of making investment in the south. Fengxian attracted a total of US$ 150 million in the first five months this year, up over 150 percent for two straight years, holding a leading position in the city.
To attract more businessmen, Fengxian has sent out more than 500 "business ambassadors" to publish the information about investment invitation at home and abroad. It has set up more than 100 offices in China and established agencies in San Francisco of the United States and Paris of France. Some world-famous website such as Nanyang Information Net and Yahoo! repeatedly published over 300 pieces of information on the county's invitation of investment.
International investment and domestic private enterprises are the main investment sources in the the Hangzhou Bay. A renowned Belgian company has added investment of US$ 16 million for the third time to a chemical project. Shuangling Company, a private enterprise in Zhejiang Province, has invested 380 million yuan to construct Shuangling Shanghai Industrial Park in Fengxian.
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