As a national-level economic area, the Weifang Binhai Economic and Technological Development Zone is now a hot investment destination in East China's Shandong province due to its tempting policies and considerate services.

"We are committed to improving our soft environment to make the zone attractive to investors form home and abroad," said Wang Shuhua, Party chief of the zone.

"In addition to infrastructure, the soft environment of policy, law, regulations and management is also of great importance to sustainable development," he said.

With that approach, the committee has been giving strong support to investors through a number of preferential policies on taxes, financing and land use.

Its team whose combined members work around the clock providing one-stop services for registration, application, approval, construction, personnel training and medical care.

Enterprises and organizations in the zone are exempt from 45 types of administrative fees, a policy that can save them more than 200 million yuan ($32.2 million) every year.

The zone is also working to provide a more comfortable work and living environment for businesspeople and employees. Its modern facilities now include office buildings, financial centers, environmentally friendly residential areas, a college town, an international film center and coastal gardens.

The efforts have paid off. Following its establishment in 1995, the zone was elevated to a national economic and technological zone by the State Council in 2010.

Last year, it reported a gross product value of 18 billion yuan and its industrial enterprises above a designated threshold generated 50.7 billion yuan in revenue.

More than 200 well-known domestic and foreign enterprises have already invested in the zone including the Dead Sea Bromine Group from Israel, the Oriental Chemical Co of South Korea, Itochu Corp of Japan, and China National Offshore Oil Corp.

Most are engaged in equipment manufacturing, eco-friendly marine chemicals, aquaculture, advanced materials, clean energy, modern logistics, international finance and trade, as well as ocean-related tourism.

Some 308 new projects that will require a combined investment of 180 billion yuan are slated for next few years. Thirty are each valued at more than 1 billion yuan.

A 160-square-kilometer, 5-billion-yuan advanced equipment manufacturing facility by Weichai Holding Group Co - the largest wholly owned subsidiary of Shandong Heavy Industry - is now under construction that when complete is expected to generate 100 billion yuan annually in sales revenue.

Other projects currently under way include a 50-square-kilometer new energy site, an 80-square-kilometer logistics park and an 11-billion-yuan environmental friendly marine chemical industrial zone backed by China National Offshore Oil Corp.

"Once these projects are in operation, they will definitely be a shot in the arm for the zone," Wang said.

"By the end of 2015, the zone will be developed into a new urban nucleus with an annual sales revenue of 500 billion yuan," he said.

wangqian2@chinadaily.com.cn

(China Daily 04/03/2013 page7)