- Language Tips
On Aug 20, the State Council approved plans to establish the nation's fifth State-level development zone in Lanzhou, the capital city of Northwest China's Gansu province.
Located in Qinwangchuan Basin in northern Lanzhou, 80 kilometers from downtown Lanzhou.
Covers an area of 800 square kilometers.
Infrastructure will not be competed until 2030.
44 high-rise residential buildings will be competed next year.
It had lured 90 projects by October.
Accumulated corporate investment has been more than 70 billion yuan ($11.2 billion) in the zone.
The largest business operating in the zone is a plant run by Zhejiang Geely Holding Group, a Zhejiang-based automaker and the largest shareholder of Volvo Group.
Sany Group has invested 530 million yuan in a concrete mixer manufacturing plant in the zone.
Lanzhou Yatai Industrial (Group) Co, a local real estate developer, has invested 3 billion yuan in building a headquarters park in the heart of the zone.
Veolia Water China, the Chinese arm of a France-based water service company, is talking with the local government about a water supply contract with the zone. Veolia's joint venture with the municipal government provides running water for 2.5 million people in downtown Lanzhou.
(China Daily 11/19/2012 page13)