"Zhejiang Province will speed up development in the next five years. It will promote all-round modernization, intensify efforts to develop information industry, while accelerating industrialization and urbanization process. We hope that Zhejiang will take the lead in realizing modernization among all the provinces," said Wang Yongming, provincial vice governor, at a press conference held on April 10 at the Great Hall of People, Beijing.
Zhejiang Province is located along the southeast coast of China, covering a land area of 100,000 square km and a sea area of 260,000 square km. With a population of 44 million, it is an area with one of the fastest and most vigorous economic growth rates in China.
Zhejiang is a land of abundance. It is rich in rice, tea, cotton, yellow croaker and cutlass fish and has such special local products as longjing tea of Hangzhou, hickory nut, loquat and xianggu mushroom.
Its industry is also developed, focusing on machinery, electronics, chemistry, medicine, textile, silk and papermaking. Such handicrafts as the brocade of Hangzhou, stone sculptures of Qingtian and the woodcuts of Dongyang enjoy a good reputation around the globe.
Zhejiang also has abundant tourism resources. Hangzhou, the provincial capital, is world famous for its beautiful landscape and rich history. It attracts more than 50 million Chinese and foreign visitors each year.
Over the past 20 years, the province has realized an average annual growth rate of over 13 percent in its GDP. In 2000, the provincial GDP and per capita GDP were respectively 603 billion and 13,400 yuan. Its overall economic value ranks 4th in the country.
By the end of 2000, Zhejiang government had approved 18,339 foreign invested enterprises, involving a total investment of US$43.6 billion. Of the top 500 companies of the world, 41 have invested in Zhejiang, setting up 82 enterprises.
Zhejiang is one of China's major trading ports. To date, it has established economic and trade cooperation with over 200 countries and regions. In 2000, the province realized a total import and export volume of US$27.834, of which exports totaled US$19.44, ranking 4th among all the provinces.
In 1999 and 2000, Zhejiang successfully hosted two investment and trade fairs in Ningbo, an important port city. The achievements of utilizing foreign investment in the 20-odd years of reform and opening-up were displayed and the export commodity trade and talents and technology import activities were carried out.
Besides, Zhejiang also held the Foreign Investment Company Exquisite Product Exposition and China (Ningbo) International IT Exposition and hosted special forums such as WTO and Zhejiang's Opening-Up and Private Economies Using Foreign Investment. All produced good results.
Zhejiang has decided to host the Third Investment and Trade Fair from June 8 to June 12 this year in Ningbo. In line with the overall development requirements of the 10th Five-Year Plan, taking the opportunity of China's entry into WTO and conforming to the trend of economic globalization, Zhejiang will enlarge the invitation of foreign bids, expand the field of utilizing foreign investment, adjust the economic structure and create a fine investment environment, thus laying a solid foundation for the overall opening-up and modernization of the province.
The upcoming investment and trade fair consists of investment negotiation, trade negotiation, investment forums and introduction of talents and technology.
The investment and trade fair will focus on key regions for the utilization of foreign investment: the development zones at the state- or provincial-levels; emphasize key sectors, such as petrochemicals, machinery, electronics, bio-medicine, agriculture, tourism and services, and select Taiwanese investors as main invitation bidders.
During the fair, the 2001 Zhejiang Import and Export Commodity Exposition and China (Zhejiang) International IT Application Exposition will be held. At the first exposition, several types of commodities in which Zhejiang has advantages will be displayed, including mechanical and electrical products, textile and garments, light industry arts and crafts and household appliances.
The latter exposition will mainly show the development situation of the information industry both in China and abroad and application situation of E-commerce; introduce and promote the application of the latest techniques; accelerate the application of IT in traditional industries and open bids for involvement in the IT industry.
Investment forums will be held, such as the Hi-tech and Venture Investment Forum, Cross-Straits Economic Cooperation and Development Forum and New Century Development Zone Strategy Forum.
At the forums and seminars, famous economists and securities investment experts as well as scholars and officials in other fields will be invited to deliver speeches so as to enhance enterprise awareness of using high technology and venture capital. The latter two forums will focus on inviting Taiwanese and foreign investors.
During the fair, a week will be devoted to Returned Overseas Students to Start Businesses in China. Also, a trade fair to introduce foreign intelligence, a fair to recruit employees in foreign-funded enterprises and Chinese college and Zhejiang (Ningbo) Scientific Cooperation Conference will be held to demonstrate the fine environment of Zhejiang in introducing talents and technology.
(CIIC by Sun Yuan'er 04/12/2001)
