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Shangyu Cao'e River Economic Development Zone is located in Shangyu district, Shaoxing, East China's Zhejiang province. [Photo/zj.zjol.com.cn]

Shangyu Cao'e River Economic Development Zone, which is located in Shangyu district, Shaoxing, East China's Zhejiang province, received the approval from the Zhejiang government to be set up.

The economic development zone has a planned area of 23.25 square kilometers.

The zone bring in businesses, investment and projects, and empower Shangyu to achieve high-quality development, said Ge Shufen, a staff member at the Shangyu economic and information bureau.

The zone's target is to achieve an annual industrial output value of more than 100 billion yuan ($15.74 billion).