Try Hard to Create a New Situation for Open Economy of Zhejiang Province
By Jin Yonghui, the Director General of ZFTEC
Zhejiang Province is located in the south of the Yangtze delta on the southeast coast of China and adjacent to Shanghai, with the land area of 100,000 square kilometers and the population of 50.6 million. It has been renowned as the land of fish and rice, the home of silk and tea, the state of cultural relics and the place of interests.
Zhejiang is one of the provinces with strongest general economic strength in China. In 2007, the gross domestic product (GDP) of Zhejiang province is 1863.8 billion RMB Yuan, increased by 14.5 percent than that for the previous year and the per capita GDP in Zhejiang reached 37128 RMB Yuan (equal to 4883 US Dollars) with an increase of 12.7%. With the correct leadership of the Provincial Party Committee and the Provincial People’s Government, Zhejiang comprehensively implements the theory of scientific development, actively carries out the general strategy of enriching people by entrepreneurship and enriching province by innovation and accelerates transformation of the mode of economic development to give all-out support to improve the quality and efficiency of economic growth, enhance self-directed innovation and energy-saving environmental protection, promote coordinated development of plan for entire project, provide better livelihood to the people and speed up the social construction. The economy and society of Zhejiang Province has maintained a sound momentum of development.
Since the introduction of the reform and opening policy three decades ago, the open economy of Zhejiang has developed rapidly and the entire province has formed an all-dimensional, multi-layered and wide-ranging opening pattern. The international intercourse of Zhejiang Province has been steadily broadened and presently Zhejiang has established direct economic and trade relations with more than 200 countries and regions in the world. In 2007, Zhejiang’s open economy has increased quickly. The annual accumulated I/E volume is 176.83 billion US Dollars, increased by 27.1% as compared with the same period last year, in which: the export volume is 128.29 billion US Dollars, increased by 27.2% as compared with the same period last year and the import volume is 48.54 billion US Dollars, increased by 26.9% as compared with the same period last year. All growth rates of the three indicators have ranked the front among major coastal provinces and cities. The contracted foreign investment across the province is 20.4 billion US dollars and the foreign investment in actual use is 10.37 billion US dollars, increased by 6.8% and 16.6% respectively as compared with the same period last year. The total overseas investment is 0.66 billion US Dollars with an increase of 69.2%, in which: the Chinese investment is 0.61 billion US Dollars with an increase of 101.7% and the outward turnover is 2.08 billion US Dollars, both have overfulfilled the work objectives set up in the year-beginning.
Zhejiang Foreign Trade & Economic Cooperation Bureau is a comprehensive economy management department of Zhejiang Provincial People’s Government to take charge of the external import and export trade, foreign investment utilization, outward investment and other foreign economic and technical cooperation. We are willing to work hard to create a high quality development and operation environment for the promotion of mutually beneficial cooperation between Zhejiang and foreign investors in the fields of trade, investment, etc. and further promote the opening up of Zhejiang Province by means of practical style of work, active, enthusiastic and high-efficient service and advanced technology.
Zhejiang is a vital land with clear waters and green hills and full of hope. We sincerely welcome you to pay a visit here for mutual development.
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