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|Monday, June 18, 2001, updated at 07:52(GMT+8)|
China Sets Up 3rd Bonded Export Processing ZoneThe Yantai Bonded Export Processing Zone was recently put into operation in this east China coastal city, to become the third bonded export processing zone in the country after the first and second such zones in Kunshan City, Jiangsu Province, and Shanghai.
The processing zone in Yantai was set up in April 2000 as one of China's first 15 processing zones with a planned area of three sq km. In the zone, warehouses, an inspection and quarantine station and standard industrial buildings have been built.
The export processing zone has also placed emphasis on the improvement of services. A 24-hour hot-line telephone service was opened for foreign investors to deal with problems and difficulties in production and management. So far, the zone has set up 26 projects with a contractual foreign investment of 42 million U.S. dollars.
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