Hong Kong investors are welcome to participate in the development of the Jinan Comprehensive Free Trade Zone, a top official said. Zhang Duanwu, director of the zone’s management committee, extended this invitation during Shandong-Hong Kong Trade Week.

A planning graph of the Jinan Comprehensive Bonded Zone.

Approved by the State Council last May, the zone is the 21st comprehensive trade zone in China and the second in Shandong. With a designed area of 15 square kilometers, the zone has four functions -- tarifffree processing and logistics, international trade, and direct transportation under the supervision of the Chinese customs office.

Enterprises in the zone have convenient access to a variety of trade services, including warehousing for bonded goods and customs clearance. Now, more than 100 enterprises are seeking opportunities in the zone in such fields as electronic information, equipment manufacturing and biopharmaceuticals.

During the next five years, the zone will highlight five industries-- integrated semiconductor circuitry, biopharmaceuticals, outsourcing, logistics and commercial office space for headquarters.

Supported by comprehensive facilities like the Shandong Sinochip Semiconductor Industrial Park, the output of factories producing integrated semiconductor circuits is projected to generate annual sales of 50 billion yuan. Biopharmaceutical enterprises in the zone are projected to generate annual sales of 10 billion yuan.

This industry is driven by 210,000 square meters of facilities dedicated to biopharmaceutical innovation and manufacturing.

Last year, total revenue of the Jinan Export Processing base, from which the zone is formed, reached 14.7 billion yuan, which is three times the revenue seen in the previous year, laying a solid foundation for the zone’s strategy, which ultimately aims to raise the amount to 120 billion yuan by 2017.

Output value from all hightech industries reached 1.2 billion yuan, a threefold increase over the previous year.

By Zhao Ruixue

zhaoruixue@chinadaily.com.cn