China to Build Special Economic Zones Along Northern BorderThe Inner Mongolia Autonomous Region in north China prepares to establish two special economic zones (SEZ) in two cities bordering Russia and Mongolia.Manzhouli City, located in northeastern part of the autonomous region, is a door-to-door neighbor of Chitinskaya Obl. of Russia. It is known as China's largest land port city. The Manzhouli special economic zone is scheduled to be built some 40 meters away from the Sino-Russian border. The SEZ will be featuring protective trade, trade and import and export processing, entrepot trade with protective tariff, warehousing, and international financing settlement. Statistics showed that foreign trade in Manzhouli has increased during the first half of this year as its exports hit 109 million US dollars, up 12 percent, and imports hit 210 million US dollars, up 124 percent. Erenhot City, the second largest port city in Inner Mongolia, is also applying to be included in the plan for constructing frontier special economic zones. The city, bordering Mongolia, was an important commercial passage connecting Europe and Asia in the 10th century. The Erenhot SEZ will be keen on developing bio-engineering projects, green food processing except the preferences Manzhouli SEZ will enjoy. The feasibility study report has been passed by the government of the autonomous region. Construction of the two SEZs welcomes foreign investment and famous businesses from developed areas in China. |
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