News

Wenzhou's coastal zone has makeover

By Xiao Xiao (China Daily)
Updated: 2010-06-19 07:18

Wenzhou city plans to invest billions on restructuring its coastal area in order to achieve sustainable industrial growth.

The city will invest 20 billion yuan in major projects in its coastal industrial zone in 2010, including 2.5 billion yuan for transportation infrastructure, and over one billion yuan on land reclamation projects, according to the city's Development and Reform Commission.

The zone covers an area of 1,645 sq km from Yueqing city to Xiaguan town in Cangnan county, and includes six counties and 42 towns. It will focus on the development of 12 sub industrial areas, with a total investment of 273.1 billion yuan in 197 key construction projects.

"The coastal industrial zone will provide the city with a precious opportunity to accelerate its industrial upgrading and economic restructuring process," said Zhang Yili, vice-head of Wenzhou University's business school.

In recent years, some light industrial products such as lighters and leather shoes from Wenzhou quickly occupied domestic and foreign markets. However, due to the low technology content of these products, competitors from other regions quickly caught up.

The zone is also expected to promote the oil and chemical industry, new materials and other upstream raw material industries, and also to develop mechanical equipment, electrical appliances, electronic information, automobile and motorcycle parts and other mid-stream equipment manufacturing.

In 2009, over 119 industrial projects were started in the development district of the zone. A 100,000 ton-class shipbuilding project in Yueqing has completed two 30,000 ton-class berths and facilities. A wind-electric equipment is under construction, and an emergency vehicle project producing 3,200 vehicles annually has begun. The coastal industrial zone completed projects worth a total investment of 13.5 billion yuan, 123.8 percent of the yearly plan.

"The year 2010 will be key for promoting construction of the zone," said Shao Zhanwei, secretary of the Wenzhou Party Committee. He said the city would auction land of six sq km, and implement investment of more than 50 million yuan on 60 new industrial projects this year.

(China Daily 06/19/2010 page13)