Emerging Dalian Bay boasts equipment manufacturing
Before a small fishing village, the town of Dalian Bay at the confluence of the Yellow and Bohai seas will develop into an important equipment manufacturing center of northeast China, according to local officials.
Set along 24.4 km of coastline, the township is now home to a 22-sq-km equipment manufacturing and assembly zone that has been listed since 2002 as an important support area for the Liaoning provincial coastal economic development belt.
Dalian Bay generated a GDP of 4.19 billion yuan last year, an increase of 7.5 percent over 2007, according to local government statistics.
Fixed asset investment in the area totaled 4.46 billion yuan along with industrial output of 16.35 billion yuan, up 35 percent and 66.7 percent, respectively.
More than 1 billion yuan in domestic investment and $463 million in foreign funds were attracted to the area last year.
Due to its robust development, Dalian Bay ranked first among the top 100 townships in Liaoning province in 2007 for overall economic strength.
"The rapid development is in largely due to renowned enterprises," said Lu Shengbin, Party secretary of the Dalian Bay street committee.
Its 9-sq-km equipment manufacturing zone is home to brands such as Huaneng Power, Liaoyu Group, Sinotrans and Shide Group, while 194 enterprises have moved into the 13-sq-km assembly area.
Local authorities said expansion of infrastructure has been crucial to continued development.
Over the past five years, some 1.3 billion yuan has been spent on infrastructure, Lu said.
"The bay will be developed into an area with modern equipment industries and urban facilities within three to five years," Lu said.
Plans also call for five-star hotels to be built on the bay, Lu said.
Lu added an administrative committee for coastal equipment manufacturing and assembling zone will be inaugurated later this year to provide better service for foreign and domestic investors.
(China Daily 09/10/2009 page37)
