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Qingdao Tax-free Zone, Hotbed for Overseas Investment
By taking full advantage of its preferential tax-free policy and its unique location as a port, the Qingdao Tax-free Zone has become a hotbed for overseas investment.
Statistics show that the zone had by the end of last year ratified some 700 overseas-funded projects with total contracted overseas investment of 860 million U.S. dollars.
Quite a few of the world's 500 largest corporations like Lucent have been attracted to the zone, while an electric remote control project funded by Taiwan businesses with a total investment of 380 million US dollars represents the latest example.
Meanwhile, the zone also becomes a hotbed for domestic producers like Haier, Hisense and so on.
Being the only tax-free zone in Shandong and even the entire Yellow River Valley, the zone is set to take Qinghai, Gansu and Inner Mongolia, all in west China, as its processing bases, and it further tap its potential in processing trade.
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