Friendly environment attracts investment
By Xiao Qiu (China Daily)
Updated: 2006-10-30 10:59
In addition, a total of 11 new enterprises have been put into production in
the park since the beginning of this year.
In January this year, Liuzhou
plant of the Shanghai Automotive Transmission Co Ltd, with an annual production
of 700,000 auto transmission units, started construction.
The company,
with investment of more than 300 million yuan (US$37.5 million), is the only
auto transmission production centre in Guangxi.
It is expected that the
company will become China's largest auto transmission production centre after
the completion of its second phase construction, with the annual production
value expected to hit more than 1.5 billion yuan (US$187.5 million).
In
another development, domestic investment has also seen rapid growth in the
Yanghe zone.
The actual use of domestic and foreign investment hit 325
million yuan (US$40.6 million) and US$7.65 million respectively in the first
eight months of this year.
As one of the major auto parts manufacturing
bases in the nation, most domestic and foreign-invested enterprises within the
zone are engaged in producing auto parts.
The zone will bring special
investment promotion projects to the upcoming China-ASEAN Expo, which will be
held from today to November 3 in Nanning, capital city of the Guangxi Zhuang
Autonomous Region, which involve the production of auto moulds, auto engine
series, auto electronics and auto glasses, according to the area's
administrative committee.
Despite rapid growth in foreign investment,
officials from the zone's administrative committee pointed out that there are
still many improvements needed for further investment
development.
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