Yangpu Economic Development Zone in Hainan Province was established by the State Council in March 1992, thanks to vigorous support and encouragement by leaders such as Deng Xiaoping and Jiang Zeming. The zone has unique advantages over the many development zones in China. Geographically, Yangpu is the nearest zone to Southeast Asia, the Middle East and Africa, making it much easier for local enterprises to make overseas contacts. Yangpu, which has a land area of 30 sq km, is the only seaside industrial port in China that can handle large-scale plant and machinery. The area around Yangpu is rich in natural resources, including natural gas, iron ore, quartzite, titanium and sea salt. Hainan's enormous farm output could easily supply food processing operations.
The central and provincial governments have put in place a preferential tax policy for all enterprises in Yangpu, which is the first bonded area in China that has been wholly developed by a foreign company.
Yangpu has spent more than RMB6.8 billion on infrastructure within the zone and this, coupled with the quality of the zone's administration, means that it can handle extensive investments in the zone. The administration office has streamlined registration procedures and has prepared every possible convenience for investors.
The Chinese and provincial governments and the developer are cooperating closely in developing Yangpu into a dynamic zone that is ready to meet the demands of twenty-first century.
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