Export-oriented Processing Zones in China Enjoy Smooth Development

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Last updated at: (Beijing Time) Tuesday, September 09, 2003

Export-oriented Processing Zones in China Enjoy Smooth Development

Export-oriented processing zones inChina have become a bridge connecting domestic and overseas markets, Gong Zheng, Deputy Commissioner of the General Administration of Customs, said Monday.

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Export-oriented processing zones in China have become a bridge connecting domestic and overseas markets, Gong Zheng, Deputy Commissioner of the General Administration of Customs, said Monday.

Addressing the 7th China International Fair for Investment and Trade (CIFIT), Gong said that export-oriented processing zones, which enjoy preferential policies, have been seeing smooth development since the first such zones appeared in the country with the approval of the State Council in 2000.

Currently, China has 38 such zones, mostly in coastal provinces and municipalities.

By June, 447 enterprises invested 4.75 billion US dollars in the zones, achieving a total foreign trade volume of 11.735 billion US dollars, over 5.9 billion of which was from import and 5.83 billion from export.

Exports and imports in these zones in the first half of this year rose 450 percent over the same period last year, according to Gong, and the trade for the whole year is expected to exceed 10 billion US dollars, doubling last year's figures.

Gong said export-oriented processing zones play an important role in expanding the country's opening-up, trimming the management of the country's processing businesses and promoting local economic development.

Government departments will improve their management and service to the zones and create a more favorable environment for development, Gong said.

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