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Development Zones in Hebei Province Attract Foreign Investment
Hebei Province in north China, neighboring the country's capital of Beijing, has successfully attracted foreign investment for its economic development zones in a wide range of areas.
The development zones in Qinhuangdao and Shijiazhuang cities in the province have reported a total foreign investment of more than US$8.9 billion mainly coming from the U.S., Europe and Japan.
Hebei now has about 500 development zones, which offer preferential policies and convenient services for enterprises. The government has appropriated about 17.3 billion yuan (US$2 billion) in burnishing infrastructure in the zones.
The province will provide opportunities for investment in the sectors of finance, insurance, telecommunications, tourism, legal affairs consulting, infrastructure construction, and environmental protection, according to officials in the province.
Hebei Province, with an area of 188,000 square kilometers and a population of 66 million, has rich natural resources and convenient transportation.
China started to establish special economic zones on its east coast in the early 1980s as an attempt to stimulate the nation's economic development.
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