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Offshore investment for city overhaul

By Zheng Caixiong (China Daily) Updated: 2014-11-10

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Zhanjiang is expecting overseas investment to play an increasingly important role in the city's economic construction in the coming years.

According to the city's development blueprint, the port city in the western part of Guangdong, is hoping to attract foreign investment to build 11 economic and technological development zones, industrial parks and projects.

Zhanjiang Economic and Technological Development Zone, which covers an area of more than 354 square km, is one of the largest State-level economic and technological development zones in the Chinese mainland.

In addition to industrial projects shifted from the prosperous Pearl River Delta regions, the zone is expecting to attract offshore investment to develop its pillar industries of steel, petrochemical and papermaking.

The Fenyong New and High-Tech Development Zone will give top priority to the biochemical, new and high-tech equipment, electronics, ocean biology, new medicines and new materials industries.

The 46-square-km zone includes Guangdong-ASEAN Industrial Park and China-ASEAN Economic and Technological Development Zone, which mainly attract investment from ASEAN regions, as well as the United States, Europe and Japan.

Zhanjiang city government is also looking to expand Sino-foreign cooperation to further develop the city's infrastructure.

Zhanjiang plans to build 11,700 km of highways and 223 km of railways in the coming years, with total investment of more than 90 billion yuan ($14.73 billion), some of which will be sought from foreign partners.

Zhanjiang is sparing no effort to attract foreign investment to reconstruct its old city and develop its information, finance, insurance, commerce, trade, holiday resort, luxury hotel, yacht, tourism and modern service industries.

Meanwhile the central government gave the green light for construction of a free trade logistics center in Zhanjiang at the end of last month.

It is the first free trade logistics center in the vast western Guangdong region which borders Guangxi Zhuang autonomous region and faces Hainan island.

Also last month, more coastlines of Zhanjiang port were allowed to open up by the State Council.

A total of 44,400 meters of coastlines with 29 berths at Baoman port area and Donghai Island port area opened up.

 

The cargo throughput at Zhanjiang port is expected to hit 300 million tons in 2016.

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