THE Shanghai county of Qingpu aims to develop an industrial base by opening its second development zone for foreign capital this year.
The county has chosen Huancheng township to set up the 300-hectare Qingye Economic Developing Zone for production, aiming at textile and electrical products.
Located in western Shanghai, the new zone is near the specialised Shanghai China Textile International Science and Technology Industry Town, which Qingpu started to develop earlier this year.
'In future, our township, or even Qingpu, may be turned into an industrial base by changing the use of all farms,' Shi Pingao, head of Huancheng, said in Hong Kong yesterday.
The township would offer preferential treatment to foreign investors, such as lower land prices, he said.
To date, six joint ventures have started developing factories in the new zone.
