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Chinese Bonded Zone to Draw More Overseas Investors
The bonded zone in this coastal city of east China's Shandong Province has decided to establish a number of specialized industrial parks for electronic products, gold and silver ornaments and rubber goods.
An official with the zone administration said the decision is aimed at drawing more overseas investors.
Recent statistics show the bonded zone has approved the establishment of 650 businesses, with a combined overseas investment of 170 million US dollars.
It introduced 76.84 million U.S. dollars of contractual overseas investment during the first half of this year, almost doubling the figure on a yearly basis.
The zone exported 52 million U.S. dollars worth of goods in the period, a 28.3 percent rise over the 1999 figure.
These achievements are attributed to the introduction of an international-level management system, simplification of customs procedures and positive efforts to attract more investment from overseas, local official sources said.
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