China-Malaysia Qinzhou Industrial Park is the first industrial park being run in cooperations between the Chinese government and Malaysian government, and the third industrial park attracting global investment between China and a foreign government.
It promotes modern services such as logistics, finance and insurance, commercial exhibitions, and a regional headquarters economy, honored as a new highlight of the industrial cooperation between China and ASEAN.
With a planning area of 55 square kilometers, the industrial park has achieved 1.22 billion yuan gross investment since it opened on April 1, 2012. Investment this year has so far reached 5 billion yuan.
The investment is used for project constructions such as road networks, sewage treatment plants, public water and electricity, indemnificatory housing for industrial workers, and so on.
The official start of the Sino-Malaysia cooking oil processing project with a 780 million yuan investment on July 21, 2013 was a milestone for the real economic group of Sino-Malaysia’s Qinzhou Industrial Park when it entered its construction phase, said Zhou Bo, the deputy director of the Sino-Malaysia cooking oil processing project. Relying on the advantage of port logistics, using palm oil from Malaysia and world-leading technology, it is a modernized cooking oil processing base producing both palm oil and blend oil.
The six main industries of the park are equipment manufacturing, electronic information, food processing, materials and advanced materials, biotechnology and modern services, Fan Li, executive deputy director of the management committee said. While accelerating the pace of its infrastructure construction and industrial development, the industrial park is also taking measures to reform and innovate.
1,200 sea miles from Qinzhou Port, Kuantan Port – the twin industrial park of Qinzhou – is under construction. The steel production base with a gross investment of 8 billion yuan will open next month.
The pattern of “two countries with two industrial parks” is an innovation of industrial integration in the co-building process of Sino-Malaysia’s Maritime Silk Road project in the 21st century. It will facilitate cooperation and development between China and ASEAN.