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Why Zhejiang For Investment
date:2018/03/12
1. System Advantages:
Zhejiang took the lead in the market-oriented economic reform. A socialist market economic system fundamentally established in the province: the ownership structure with the public sector remaining dominant and diverse forms of the economy developing side by side is constantly improved and perfected, an open market system with orderly competition has been basically set up, a new distribution framework has taken shape, and multi-level social security system has primarily been established. Thus, the province has gained first-mover advantage in the market-oriented reform.
The private economy of our province is where the economy's vigor, advantage and potential lie. In 2005, the GDP of Zhejiang Province reached RMB 1,336.5 billion, up by 12.4% when calculated at comparable prices. The initial estimation showed that among the total GDP in Zhejiang, the state-owned economy was RMB 380.9 billion, accounting for 28.5% and going down by 1.2% compared with the previous year, while the non-public economy reached RMB 955.6 billion, accounting for 71.5% and going up by 1.2 % compared with the previous year. In the non-public sector, the individual and private economy reached RMB 761.8 billion, accounting for 57% and going up by 1% compared with the previous year.
2. Location Advantages
On the southern wing of the Yangtze River Delta, Zhejiang boasts unique geographical advantages for "bordering rivers and seas, bridging the east and the west, and linking the south with the north". The advantages lie mainly in four aspects:
Firstly, the Yangtze River Delta is becoming the most vigorous and promising area in China's economy. Zhejiang, as part of the Yangtze River Delta, is no doubt to enjoy enormous opportunities. With the continual acceleration of the construction of international economy, trade, finance and shipping centers in Shanghai, its huge convergence and radiation capacities are supposed to directly push the Yangtze River Delta area toward sustainable and sound development.
Secondly, within the Yangtze River Delta, Zhejiang owns resources and advantages different from those in Jiangsu in its economic linkage with the central city, Shanghai. The development of Jiangsu is principally "along the River and roads, while Zhejiang faces the sea and enjoys ocean advantages, which is of great benefit for Zhejiang to develop the ocean economy, a global-market-oriented economy, port industry and logistics, etc.
Thirdly, a number of geographical factors that used to encumber Zhejiang from being connected with Shanghai and integrated into the Yangtze River Delta are being removed, and new location advantages are turning into significant strengths in the process of economic integration with the Yangtze River Delta. For instance, the construction of the Bay Bridge will greatly shorten the economic distance between Zhejiang and Shanghai.
Fourthly, the process of economic integration in the Yangtze River Delta is also the process of emergence of city clusters in the Yangtze River Delta with Shanghai as the center. In the urbanization process, industrialization and informatization would inevitably follow. According to international common practice, manufacturing industry will enjoy a prosperous development between the central city and node cities in a city cluster. This provides new opportunities for Zhejiang to construct an advanced manufacturing base, thanks to its location on the southern wing of the Yangtze River Delta and to its mid and final period of industrialization.
3. Regional Industrial Clusters
The regional industrial areas of Zhejiang, being the first and largest in China, bear the traits of "small commodities, large markets, low costs and high profits". They have maintained a vigorous momentum and have bright prospects of development. According to incomplete statistics, in the whole province there are more than 500 industrial clusters each having a gross industrial output value of over 100 million RMB, covering 175 sectors and more than 240,000 enterprises, which accounts for around 50% of the provincial total output value. Among them, the products of 52 sectors enjoy a domestic market share of over 30%, and the products of 14 sectors have a world market share of over 10%. For instance, ties manufactured in Shengzhou occupy a domestic market share of 80% and a world market share of over 30%.
The manufacturing industry featuring cluster economy is the main drive of the economic "takeoff" of Zhejiang, which will exert even greater effects in the next round of speedy development. Nowadays, in areas around the Hangzhou Bay, along the Wenzhou-Taizhou coast and along the Jinhua-Quzhou-Lishui Expressway, the layout of ten national manufacturing industry centers comes into plain view. Upon completion of the construction of the centers, the effects of integration, radiation and scale would be more impressive. The textile & chemical fiber industry, which focuses on the development of chemical fiber, chemical fiber fabrics, silk, warp knitting, household and industrial textiles, will account for around 25% of the national market, making them important world bases of textile production and export. The fine chemical industry is expected to account for over 15% of the national scale, while the proportion of fluorine chemical industry is to be over 50% and organic silicon to be over 30%. In order to incorporate more automotive parts into the international purchasing system and increase its industrial proportion to over 15% of the national scale, the auto and motorcycle industry needs to strengthen the systematic supply and modularized technical production of auto and motorcycle parts. The manufacturing industry in Zhejiang is moving toward a higher level and opening up more domains of development.
Zhejiang has many specialized markets, which are of large scale, comprehensive strengths and broad spheres of radiation. The commodities cover all the basic categories of the means of living and production. By the end of 2005, the sales volume of the 4008 commodity markets of the province reached 717.3 billion RMB. Thus, Zhejiang is referred to as "A Major Market Province": the three indexes, i.e., the total market sales volume, the number of markets with over a hundred million RMB and the sales volume of individual markets, rank the first in China for many consecutive years.
4. Coordinated Urban-rural Development
Zhejiang attaches importance not only to the leading role of cities but also to the countryside and farmers' dynamic functions in promoting coordinated urban-rural development. In every local place, the urban-rural dualistic structure has been disintegrated. Against the blueprint of "constructing a thousand model villages and renovating ten thousand villages" and with urbanization as a carrier, every locality makes overall plans, integrates resources, innovates structures and constructs supporting facilities. Accordingly the pattern of urban-rural integrated development wherein the city leads the countryside and industry pushes agriculture has been formed, which further enhances the urban functions of integration, radiation and promotion. The settlement of the "three issues on farmers, agriculture and countryside" is given top priority. The development of profitable agriculture will be continuously boosted, the construction of new countryside will be speeded up, the infrastructure in cities will extend to the countryside, the labor markets will expand to the countryside, and social security as well as public health care systems shall cover the countryside and urban-rural economy and social structures are gradually being integrated.
Zhejiang took the lead in pushing the reform on the ownership structure of township enterprises, the household registration system in small towns and the liberalization of the grain market. All these have made Zhejiang a pioneer in the nation in coordinated urban-rural development. The increase of farmers' incomes in Zhejiang has been the greatest in the nation for 17 consecutive years. Our province also took the lead in establishing the system for ensuring a minimum standard of living for both urban and rural residents. Our province decided to formally implement the new rural medical care cooperative system and medical aid system from August 2003. On the basis of a county, a unified planning for serious diseases has been carried out, with the focus on providing subsidies which cover large hospital and medical bills of the insured farmers.
5. Ecology
Zhejiang Province has relatively independent geographical units and location advantages, and the ecological system features abundant diversity with a variety of biological breeds. Its environmental supportive system is only next to that of Tibet and Hainan, ranking the third in the country. The terrain slopes down from the southwest mountainous area to the northeast plain in a step-like manner, and the topography and water system are self-contained. The eight grand water systems in Zhejiang Province basically originate from the province itself and the water environmental system is relatively independent; the river networks in the plain region are intensely spread and the water system is soundly developed; the holistic quality of water in the rivers and lakes is fine, and the water quality of most of the rivers meets or is better than Grade III of the environmental quality standard for surface water. The mountainous areas are densely distributed with vegetation covered in forests. The forest coverage is one of the highest in the nation, with the rate in southwest Zhejiang even higher. Currently, 16 natural reserves at national level and 83 forest parks at provincial level have been established in the whole province. Zhejiang Province is one of the provinces which have the largest number of forest parks in the nation.
Zhejiang is well-founded in terms of environmental protection and ecological construction. It is the fifth of the state-level ecological pilot regions. The overall quality of the ecological environment in the province is one of the best in the country. The tendencies of environmental contamination and ecological deterioration have been checked and the environmental quality has kept stable. Comprehensive management has resulted in improved residential environment in the cities and the countryside. Farmers living high up on the mountains or deep in the mountains were encouraged to move down.
Notable achievements have been made in developing an eco-friendly economy. Zhejiang took the early initiative in developing eco-friendly agriculture, eco-friendly industry and eco-friendly tourism and the favorable tendencies have sustained. The industry of green food and organic food such as tea, canned food, fresh fruit, grain, oils and etc. keeps developing by leaps and bounds. The eco-friendly industry, especially the environmental protection sector, has had rapid development. A batch of production-study-research bases and bases of specialty industries have been developed as a priority. Capitalizing on the rich resources of a beautiful landscape, a long history and rich cultural heritage in Zhejiang, the eco-friendly tourism in our province is booming, making Zhejiang an important tourist destination.
6. Mountains & Seas
Zhejiang is a small terrestrial province but a large maritime one. The ocean area of 260,000 square kilometers is 2.6 times that of the land area; the 3061 islands account for 2/5 of the total number of islands in the country. The coastline and the islands' shoreline, totaling 6500 kilometers, rank the first in China, among which 333 kilometers are precious deep-water shoreline over ten meters in depth, providing rich resources of "harbor, fishery, scenery, oil and gas". In Zhejiang, shorelines suitable for over 10-thousand-ton deep-water berths, where 100 deep-water berths of 100-thousand-ton can be built, account for 1/3 of the total in the country, ranking the first in China.
Zhejiang is geographically known as "70% of mountains, 10% of water and 20% of land". The mountainous areas account for 70.4% of its total terrestrial areas. Due to historical reasons, the mountainous areas are relatively less developed in our province. However, the backwardness of less developed areas can be converted into advantages by expanding regional cooperation in exploiting mountain and ocean resources, combininig the economic advantages in developed areas with its own resource advantages, and by developing themselves into the largest production base for green agricultural products and base for tourism, sightseeing and recreational agriculture. Advantages of the abundance of labor force and low costs will be fully exploited to boost the development level of the specialty agriculture and develop a batch of leading agricultural enterprises.
7. Environment (soft & hard)
In the five years after 2005, "five 10-billion projects" will be carried out as the main driving force, with the focus on building up an economically strong Zhejiang through the "10-billion infrastructures" project, a digital Zhejiang through the "10-billion informatization" project, a strong Zhejiang in science, education and culture through the "10-billion science, education, culture, health and sports" project, a green Zhejiang through the "10-billion ecological environment" project, and a Zhejiang of well-coordinated regional development through the project of "10-billion to assist the poor to become affluent". For each project, at least 10 billion RMB will be invested annually and the total investment into the "five 10-billion" projects is to reach over 30 billion RMB. After the completion of the "five 10-billion" projects, Zhejiang will have a brand new look in each aspect: the overall situation of infrastructure will change from "basically relieved" to "basically met", or to "satisfactory met" in certain areas, creating first-class investment and living environments.
By the end of 2007, railway networks will have covered the whole province, with over 75% coverage of expressways in the counties and cities. Supplemented by power procurement from outside the province, generally there will be no more"power cuts" in the power supply. 10 million fixed line telephone networks, 8.10 million mobile phone network, over-400G transmission network and 4 million broadband network will be established so that comprehensive portal websites of the governments at three levels—province, city and county—will be basically formed, shaping a framework of "e-government administration". 200 hi-tech R&D centers at national and provincial levels and 100 key laboratories will be set up to construct the nationally leading systems of regional innovation, education and culture. We will protect and construct over 30 million Mu of ecological forests, ecological economic forests, ecological forests and forest parks. 10 thousand kilometers of backbone river courses will have "smooth rivers and clear water" after being harnessed. Urban sewage and waste disposal rate will reach 58% and 92% respectively, and the public green land per capita will rise to 8 square meters.
By updating the administrative examination & approval system as a breakthrough, Zhejiang is exerting itself to perfect the management of social affairs and public service functions so as to create a better soft environment for development. Measures such as providing one-stop service, a single-window service interface, parallel and online examination & approval as well as non-governmental investment project registration and archives, informed commitment system and complaint centers have been put in place. All of these have greatly shortened the time spent on examination & approval, bringing convenience to the general public.
8. Human Culture
One outstanding characteristic of Zhejiang's culture is the strong beat of its economic pulse. In line with "prosperity in Qiantang since ancient times" and represented by the Yongjia academic school in Wenzhou, the mindset of "equal focus on morality and profits, and on industry and commerce as foundations" began to take root in the feudal society, becoming a peculiar feature of Chinese culture and deeply affecting Zhejiang people's ideological concepts and behavioral patterns. Another characteristic of Zhejiang culture lies in the traditional creativity that draws on strengths of both the inland culture and ocean culture. It also mingles the essence of Wuyue culture and culture in the central plains of China, reflecting the exchanges between Chinese culture and western culture and forming a peculiar division in the Confucian culture.
Most distinctive in "Zhejiang spirit" is the enterprising spirit, featuring "Constant striving, perseverence, innovation and pragmatism", which a vivid portrait of Zhejiang people. They believed in "no business too small" in the era of planned economy. During that era, large groups of Zhejiang people left Zhejiang for different places over the country, where they were engaged in the jobs for which the locals would show contempt. Now, a number of them have worked their way to entrepreneurs of non-governmental enterprises whose market values exceed a hundred million RMB. Back at that time, they were collecting waste for recycling, fluffing cotton with a bow, repairing shoes and forging irons, etc. However, they had never regarded such laboring as a shame. Instead, they managed to grasp every opportunity and accumulated precious experience for their later undertakings. Nowadays, many entrepreneurs with great achievements in Zhejiang are still practicing the virtues of diligence and thrift formed when they started their businesses. This is an important reason why the economy in Zhejiang enjoys such sustainable, quick and benign development.
Among China's cultural celebrities, there are over one thousand persons of Zhejiang origin, which accounts for 1/6 of the nation's total. Since the establishment of the People's Republic of China, those with Zhejiang origin have accounted for nearly 1/5 of the academicians in theAcademy of Sciences and the Academy of Enginerring. Since the implementation of the reform and open-door policy, Zhejiang people have been well known pathbreakers to the four corners of the earth. People in different sectors from Zhejiang can be found all over China and the world.
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