Shanghai creates new zone

FACTORIES, office buildings, hotels, flats and business and recreation centres will be constructed at a private economic zone in the suburbs of Shanghai.

The zone, with a planned area of 53 hectares, is situated in Jiwang county in Minhang district to the west of the city.

Wang Qiuming, general manager of the zone, said it would mainly absorb private businesses but state-owned, collective, shareholding enterprises and joint ventures were welcome, Xinhua (the New China News Agency) reported.

Jiwang, 18 km from the city centre, had 380 million yuan (about HK$344.66 million) of exports last year, accounting for one-third of the total for Minhang.

Its national product amounted to 800 million yuan last year.