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Zhejiang - Ningbo Daxie Development Zone

Published: 10 Apr 2009 16:14:00 PST

Facts&Figures (2007)

Rating
Year of Establishment	1993
Land Area	36 km²
Location	Ningbo, Zhejiang Province
GDP	RMB 10.3 billion (US$1.4 billiion), 19.65% up
FDI	US$1.2 billion (accumulative)
Utilized FDI	US$46.8 million, 21.7% down
Major Investors	Mitsubishi, PTMG, Hanwha, CNOOC, Stiolt Nielsen, BP, Sinopec, Petrochina
Major Industries Encouraged	Port-related petrochemical industries, Port logistics, energy transshipment

Source: Ningbo Daxie Development Zone

Introduction

Ningbo Daxie Development Zone, approved by the State Council in 1993, was jointly developed by CITIC and local governments. It is situated in the Daxie Island, Ningbo, and has a planned land area of 36 km².

It lies at the intersection of the coastline and the Yangtze River, about 40 km from Ningbo and 100 km from Shanghai, the economic hub of China. With the opening of the Ningbo-Shanghai transoceanic bridge, driving time from Daxie to Shanghai has been shortened to 2 hours or less. The Shanghai-Hangzhou-Ningbo Highway and the Xiaoshan-Ningbo Railway connect the development zone with other major domestic cities. Ningbo Airport provides 30 air routes to Hong Kong, Beijing, Macau, Shanghai and other cities.

Daxie is close to the deep-water international shipping lane. Currently, about 30 berths have been built up in Daxie, including the largest crude oil berth of 300,000 tonnages. Meanwhile, nearby, the Beilun harbor of Ningbo-Zhoushan Port has opened over 190 container lines from Ningbo to ports throughout the world.

Investment Climate

Daxie has been giving great priority to port-related petrochemical industries, port logistics and energy transshipments.

Since its establishment, it has approved more than 100 projects. Total investment amounted to RMB 20 billion, with investments from foreign invested projects exceeding US$2 billion. In 2007, GDP reached RMB 38.9 billion, while the utilized FDI amounted to US$46.8 million.

Due to its port resources and ocean transportation, Daxie has strong advantage in constructing the large-scale petrochemical base. The demand for up-stream petrochemical products is strong in Zhejiang, as the down-stream petrochemical industries, especially textiles, plastic processing, fine chemistry and other light industries, are quite advanced there. The industrial output from the plastic processing industry in Zhejiang accounts for 20% of China’s total, while the output of its pigment industry in the province makes up over one third of China’s total.