The Hangzhou Economic and Technological Development Area (HEDA) has been recognized as one of the best development zones in China, since its establishment in 1993.
An award given by the Japan External Trade Organization (JETO) has cemented this recognition.
The JETO, a government organization that works to promote mutual trade and investment between Japan and the rest of the world, made an assessment on China's 75 economic development zones in 2004, and awarded HEDA as one of the best zones for its ever-improving investment environment.
The award is a confirmation of the great efforts made by the administrative staff of the zone in recent years to improve its investment environment for foreign and domestic investors.
Toshiba is one of the companies that has benefited from the improving investment environment.
In 2003 when the Japan-based company first set up its base in Hangzhou, its goods shipment took up to five days. But after help from the customs and commercial inspection departments of the zone, it reduced to three days.
In addition to its working environment, the zone invested much in its living environment, building apartments, recreational centres, heating, water and electricity supplies for employees working in the zone in recent years.
Since the zone is situated along the Qiantang River, it invested about 600 million yuan (US$75 million) in building a long riverbank avenue and ecological parks.
The improved working and living environment makes employees feel like they work in a park rather than an industrial zone.
The zone has also attached great importance to environmental protection and sustainable development.
In 2004, two projects, each of which had investments of more than 100 million yuan (US$12.5 million), were not allowed to settle in the zone because they did not meet requirements for environmental protection.
According to the zone's requirement, the amount of energy consumption for producing products worth 10,000 yuan (US$1,250) should be less than 0.15 tons of standard coal equivalent, which is one-tenth of the national standard.
Moreover, the zone has improved its supporting facilities during the past few years, to cope with business and trade demands from domestic and foreign investors.
Last April, the Singapore-based YCH Group, a leading logistics management and supply-chain solutions company, set up a supply chain management company in the zone with an investment of US$12.5 million.
In addition, the US-based Prologis, another world leading logistics company, has set up its branch in the zone.
A great number of multinational companies within the zone, including Motorola, are provided with efficient delivery solutions.
In addition to logistics, the zone has already approved 10 more projects, which will provide more services for domestic and foreign companies.
These projects, with a construction area of about 750,000 square metres and a combined investment of about 1.3 billion yuan (US$162.5 million) will soon be completed.
(China Daily 06/08/2006 page11)
