The Ningbo Free Trade Zone

Overview of NFTZ
NFTZ is planed according to practice of Free Trade in the world. Finance and Trade Region, Bonded Warehouse Region and    Import & Export Processing Region are set up there; International Commodities Show Center is set up in NFTZ Modern Logistics Center is set up in NFTZ. High Technology Industry Park, which is suitable for the trend of new industry is set up in Import & Export Processing Region, it includes Electronic and Information Industry Park (International Electronic Industry City), Computer Software Park, Precise Machine Industry Park, Auto Parts Industry Park, Biology Engineering Industry Park, Overseas Chinese Scholars Pioneering Park.

Approved by Chinese Central Government, NFTZ was established on Nov. 19, 1992. In compliance with the common practice of free trade zones defined in "International Tokyo Treaty" signed on May.18, 1973, NFTZ enjoys special policies of "exempt from tax, exempt from license, bonded tax" and has economic functions of international trade, import & export processing, bonded warehousing and etc. NFTZ is one of the 15 free trade zones in China, and is a special economic area operating in the way of "inside the boundary, outside the customs". Covering an area of 2.3 square kilometers, NFTZ consists of two parts: East Area and West Area. In one word, it is so far the most opened area in China to the outside world with most preferential policies.

Current Situation NFTZ has attracted 2833 enterprises with investors from 34 countries and regions. Total investment has amounted to 12.8 billion Yuan. Among them, 426 are foreign investment totaling USD$740 million. Foreign capital has reached USD$480 million and USD$240 million has been input in their account. More than 800,000 square meters of NFTZ has been covered by completed office buildings (6), standard factory buildings (25), and warehouses (20). The zone's infrastructure construction has been completed including the road construction, communication, power, water and heat supply, sewerage and drainage system. In 1999, GDP amounted to 18.25 billion Yuan; industrial output reached 802 million Yuan; financial income hit RMB 347 million Yuan; import and export trade volume covered USD $ 590 million.

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