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Xiamen Export Processing Zone Under Construction
Construction of the Xiamen Export Processing Zone started this morning, bringing the number of such zones in China to 15.
Located in the Haicang Taiwanese Investment Zone of Xiamen, a port city in southeast China's Fujian province, the new export processing zone covers an area of 2.4 square kilometers and will be constructed in two phases.
The first phase, covering 1.46 square kilometers in area, is expected to open to enterprises by the end of 2001.
The Haicang Taiwanese Investment Zone, approved by the State Council in 1989, had attracted more than 140 foreign-funded enterprises as of July this year, with a total investment of US$3.34 billion. There are also 240 domestic-funded enterprises operating in the zone, involving an investment of 10. 48 billion yuan (US$1.26 billion).
The zone signed eight contracts on foreign investment projects at the ongoing Fourth China Fair for International Investment and Trade, which opened in Xiamen on September 8. The eight projects involve a combined contractual foreign investment of US$269.45 million.
In another development from the international fair, China Export Commodities Network created an online investment and trade fair system that enables clients to identify the commodities they need and want on the Net.
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