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China's Export Processing Zones on Rise
Construction of China's 15 export processing zones is going smoothly, thanks to great support from local authorities in a bid to help boost local economy.
A total of 15 export processing zones were approved in April by the State Council, China's highest government body, marking a gradual shift in the processing trade, which has captured a half share of China's exports.
Imported cargo through the zones can be exempt from tariffs and other complicated local duties before being exported.
The zones are situated in Dalian, Beijing, Tianjin, Yantai and Weihai in Shandong, Kunshan and Suzhou in Jiangsu, Shanghai, Hangzhou, Xiamen, Shenzhen, Guangzhou Wuhan Chengdu and Huichun in Jilin.
Covering an area of 2.92 square kilometers, the Hangzhou export processing zone, the only one in east China's Zhejiang Province,
is expected to start business during the second half of next year.
Relevant departments of the province have agreed to work with each other to ensure that the zone passes a state-level appraisal by the end of this year.
Electronic companies will take up the bulk of the zone, which will also introduce enterprises in precision instruments and bio-pharmaceutics.
It is learned that the zone is mainly eyeing enterprises in Japan, Taiwan and Singapore.
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