Help | Sitemap | Archive | Advanced Search | Mirror in USA   
  CHINA
  BUSINESS
  OPINION
  WORLD
  SCI-EDU
  SPORTS
  LIFE
  FEATURES
  PHOTO GALLERY

Message Board
Feedback
Voice of Readers
China Quiz
 China At a Glance
 Constitution of the PRC
 State Organs of the PRC
 CPC and State Leaders
 Chinese President Jiang Zemin
 White Papers of Chinese Government
 Selected Works of Deng Xiaoping
 English Websites in China
Help
About Us
SiteMap
Employment

U.S. Mirror
Japan Mirror
Tech-Net Mirror
Edu-Net Mirror
 
Wednesday, August 16, 2000, updated at 08:51(GMT+8)
Business  

Shanghai Free Trade Zone Seeking Expansion

The Waigaoqiao Free Trade Zone (WFTZ) in Shanghai is to enlarge its free trade zone area for the fourth time this October to meet the increasing demand of investors, Chinadaily reported Tuesday.

At present, most of the 6.1 square kilometers that already make up WFTZ have been leased out, mainly to manufacturing, stocking and distribution industries," the English-language newspaper quoted Li Li, an official with the WFTZ Administration Committee.

After the enlargement, the developed area of WFTZ will reach eight square kilometers, 80 percent of the maximum planned for WFTZ at the beginning of 1990s.

The companies registered inside this area enjoy zero tariffs and other preferential treatment.

"The fourth enlargement is the result of the large amount of investments that have been attracted to WFTZ since last year," Li said.

WFTZ recorded 69 new investment contracts in fixed assets in the first half year of 2000. The total contracted investment is more than 300 million US dollars, a 53.3 percent increase from that of the same period of 1999.

The official attributed the increased investment to improved transportation links by the introduction of transportation by sea.

With funding from the government and Hong Kong investors, Shanghai has almost completed the first three phases of the construction plan of Waigaoqiao Deep-Water Port.

The new Pudong International Airport has also helped WFTZ expand by bringing in more cargo.




In This Section
 

The Waigaoqiao Free Trade Zone (WFTZ) in Shanghai is to enlarge its free trade zone area for the fourth time this October to meet the increasing demand of investors.

Advanced Search


 


 


Copyright by People's Daily Online, all rights reserved