Total trade value of export processing zones hit $100bln

So far China has seen 37 export processing zones passed state approval and put into operation. By the end of last October, they had reported an accumulative foreign trade value of 105.7 billion US dollars, including 45.1 billion dollars in imports and 60.6 billion dollars in exports. The total import/export value this year is expected to exceed 50 billion dollars.

Export processing zones are areas under special customs administration which enjoy more preferential policies, quicker customs clearance, better facilities and more standardized management. Since April 27, 2000, when the State Council okayed the first batch of processing zones on a trial basis, altogether 57 such zones from 51 cities of 23 provinces or autonomous regions have been approved. They cover a total area of 141 square kilometers, with the Yangtze River Delta taking the lead, followed by Zhujiang River Delta, Bohai Rim as well as important cities in northeastern, central and western China.

In these zones, digital registration, instead of paper registration, is realized to facilitate companies engaged in processing trade. Nearly 90 percent of export goods here are mechanical and electrical or hi-tech products. IT companies from Jiangsu's Kunshan, Shanghai's Songjiang and Jiangsu's Suzhou take 72, 77 and 45 percent of the total number of corporations stationed in these zones. In recent five years, a total number of 827 foreign-funded projects have been introduced with a total foreign investment reaching 13.6 billion dollars. From January to October this year, 15 export processing zones in Shanghai, Jiangsu and Zhejiang reported a total import/export value of 44 billion dollars, or 1.6 billion dollars per square kilometer.

By People's Daily Online