Overview of Taizhou Economic Development Zone

Taizhou Economic Development Zone (TEDZ) was established on the Zhejiang coast on Jan 30, 1997, integrated with the provincial economic development zone, the provincial investment zone for Taiwan businesspeople, and the provincial high and new technology industrial park.

The Zone covers a total area of 30 square kilometers, divided into two districts by Donghuan Road. The 16-square-kilometer east district is a scientific and technological park, which focuses on technology-intensive and export-oriented programs. Enormous eco-friendly modern manufacturing industry and process industry have been cultivated there. Scores of characteristic parks have been established there, including the industrial park of high and new technology, the investment park for Taiwan businesspeople and an electromechanical industrial park. The west district includes the city's 3-sq-km downtown and residential areas and schools. The downtown is composed of an administrative and cultural center, financial and commercial trading center, sports center and other functional buildings. It is the most intensive central block in new Taizhou equipped with abundant human resources and the congregation of technology, information and capital. 

Since its establishment, TEDZ has accumulated up to 1.5 billion yuan ($224.75 million) for infrastructure construction. There are 36 main streets with a total length of 48 kilometers covering a total area of 1,980,000 sq m, and the green coverage exceeds 300 mu (20 hectares). TEDZ has already created a sound environment for investment and development. The east district boasts complete infrastructure, including telecommunication, electric power, water supply, drainage and sewerage. More road expansion construction is to build the "two verticals and four horizontals" road system. The west district has already become the backbone of the road network and enjoys excellent infrastructure. So far, investors from more than 10 countries and regions, including USA, Germany, Hong Kong and Taiwan, have invested there, focusing on the manufacture of light-reflective membranes and industrial sewing machinery, automobile fittings and rubber products. With a reasonable industrial structure, flexible mechanism of enterprise, and export-oriented products of high quality, TEDZ is undergoing rapid economic development with bright prospects.

The management committee of TEDZ, appointed by the government of Taizhou, has introduced policies to reward new investments and preferential policies for high and new technology. Meanwhile, TEDZ offers a full set of services concerning marketing and management, and also cuts down on administrative approval procedures.

TEDZ seeks every opportunity of development and always works hard to develop its economy to build a better city, with reasonable distribution, comprehensive facilities, convenient traffic, sound environment and high civilization. Investors from home and abroad are warmly welcomed.

TEDZ is dedicated to developing economies and constructing an upgraded town for its citizens. After a five-year rapid development, TEDZ has realized many economic achievements and created a comfortable living environment for citizens. TEDZ emphasizes on regional economic quality to diversify its industrial styles, including reflective film, automobile accessories and sewing machines. TEDZ has established enormous enterprises with foreign investment from more than 10 countries and regions, including USA, Japan, Germany, Australia, Hong Kong and Taiwan.

For investors, TEDZ provides the most appealing economic development opportunities and first-class services.

Investment features

Convenient location

The city level administration center, financial and trade center, and cultural and sport center are all located in TEDZ with a congregation of abundant human resources, technology, information and capital.

Integrated economic management power

TEDZ welcomes foreign investment. Examination and approval procedures for foreign investment can be completed by the Administrative Committee of TEDZ efficiently.

TEDZ boasts well-developed infrastructure facilities with total investment exceeding 1.5 billion yuan ($224.75 million), which makes an environment more livable, comfortable and convenient for investment and settlement.

Comprehensive development

TEDZ is composed of a provincial economic development zone, a provincial zone for Taiwan investors, and a provincial hi-tech industrial garden. TEDZ also develops emerging industries, including finance, real estate, education and the high-end service industry to realize comprehensive development.

Perfect service system

The administrative committee of TEDZ has made unremitting efforts to refine the service system. Various services are offered to bring foreign investors convenience.

Features of local industries

Automobile and motorcycle accessories

Taizhou is the largest production base for motorcycle and automobile accessories in China, producing 70 percent of the plastic accessories for footplate-type motorcycles. Over half of exported footplate-type motorcycles are produced in Taizhou. Qianjiang Motorcycle Group ranked second in domestic market share. Jili Group is the biggest economy-type car production enterprise in China.

Plastic molds                               

Taizhou is the largest production base for plastic molds in China, often referred to as the "land of molds" and "the kingdom of plastic". Plastic molds for automobile and motorcycle fittings, family electronic appliances, and daily necessities, account for 74 percent of the domestic market, of which the plastic molds for the TV shell occupy 50 percent.

Garment machinery

Taizhou is the largest production and export base of garment machinery in China, with international advanced quality. The inflexion sewing machine and the cutting machine have occupied about 70 percent of the global market, exported to over 100 countries and regions, including Europe, USA, Japan, Africa, Middle Asia and Southeast Asia.

Pump and valve

Taizhou also leads the production of water pumps and valves in China. Taizhou produces sophisticated small-type water pumps, accounting for about half of the domestic market. Taizhou's low-pressure copper valves occupy about 60 percent of export market and over 50 percent of domestic market.

Taizhou is also one of the biggest export and production bases for Christmas art and craft gifts. Other mainstay industries include the family electronic appliances industry, food processing, shoes, caps and garment manufacture, chemical medicine and the power industry.

Transportation

Highway

The truck roads of Taizhou are the national highway and the highway network. No. 104 National Highway, China Coastal Expressway, Shangyu-Sanmen Expressway, and Taizhou City Big Ring Road interconnect the city. It takes less than 45 minutes to travel between any two cities in Taizhou. It is only two hours from Hangzhou and four hours to Shanghai by car.

Harbor

Lying on the coast, Taizhou has always been open to the outside. Taizhou harbor is based on Haimen Harbor, with Damaiyu and Jiantiao Harbors as two wings on the northern and southern end respectively. Haimen Harbor is only two kilometers away from TEDZ, equipped with 61 berths at present, linked to the world by regular container liners. It is within 200 nautical miles to Keelung of Taiwan, Fuzhou, and Ningbo.

Aviation  

TEDZ is 10 kilometers away from Taizhou Luqiao Airport, a national level two airport with 13 lines and three adjustable lines, linking 16 major domestic cities, including Beijing, Guangzhou, Shenzhen, Shanghai, Wuhan, Nanjing, Chongqing and Changsha. It takes less than two hours to drive from TEDZ to Ningbo Airport and Wenzhou Airport.

Policies

For a foreign-invested project that is in accordance with state industrial orientation, with fixed asset investment density over 200,000 $/mu, the land could be transferred at a price of 60,000-120,000 yuan/mu. If the following conditions are satisfied, preferential policies will be offered:

I.    

1. It is a project with foreign investment of $3 million or more;

2. It is a foreign-invested project, which has been identified as a hi-tech project by provincial or national authorities.

II. If other foreign-invested projects meet the industrial requirements of TEDZ and the investment density exceeds 150,000 $/mu, the land could be transferred at a price of 100,000-150,000 yuan/mu.

III. For the projects mentioned above, if the construction starts within the contract terms and the foreign investments are in place, the urban construction fee levied will be refunded as a reward. For important and special foreign-invested projects, specific policies will be offered in light of the actual situations.

Reward for an intermediary introducing foreign investments

Reward standard

The intermediary that introduces foreign investments in TEDZ will be rewarded according to the following standards.

For executed foreign investments of $1-2 million, the reward is 0.5 percent of the actual executed fund;

For executed foreign investments of $2(inclusive)-5 million, the reward is 0.6 percent of the actual executed fund;

For executed foreign investment of $5(inclusive)-10 million, the reward is 0.7 percent of the actual executed fund;

For executed foreign investments exceeding $10 million, a higher reward will be offered.

Implementation of the reward policy

25 percent of the reward will be offered on receipt of 50 percent of the foreign investments. 50 percent of the reward will be offered on receipt of all the foreign investments and the audit report of capitals issued by the accountant office. All the reward will be offered when the project has been put into production.

Identification of an intermediary

An intermediary is one who is identified by the administrative committee of TEDZ, and who introduces foreign investments to TEDZ. The internal relation between the intermediaries is not the concern for TEDZ. An intermediary is eligible for reward.

The administrative committee of TEDZ will implement the reward, however ineligible intermediaries will not receive the reward except stipulated by the municipal government.