In the zone for rapid development

(chinadaily.com.cn) Updated: 2017-02-09

Weifang Hi-Tech Industrial Development Zone, one of China's first national-level economic development zones, reported outstanding economic results in 2016.

"The year of 2016 is the starting point of the 13th Five-Year Plan (2016-20) period," said Chu Baojie, Weifang's director of communications and Party chief of the zone's working committee. "All related parties in the zone worked hard to support business growth. We reported breakthroughs in economic and social development in 2016."

He made the comments in a speech at an economic meeting on Jan 19 that was attended by all of the zone's leading officials.

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A GoerTek employee helps a client to experience VR technology. The company, which produces electronic components, is one of the key enterprises in the Weifang Hi-Tech Industrial Development Zone. Photos provided to china daily

The region ranked No 23 among 147 national-level economic development zones in China in terms of comprehensive development power in 2015, an improvement on its ranking of No 25 in the previous year.

The industrial output value of the development zone reached 38 billion yuan ($5.55 billion) in 2016, an increase of 7.8 percent from 2015.

In 2016, companies in the zone reported strong economic growth amid the new normal of slower growth in China.

In the first 11 months of 2016, many key companies in the zone, including electronic component manufacturer GoerTek and leading commercial vehicle manufacturer Foton, reported double-digit industrial output growth. The industrial output of Weichai Power, which is involved in the research and development, manufacturing and sale of diesel engines, increased by 55.3 percent to 17.8 billion yuan. Shengrui Transmission, the developer of the world's first front-engine, front-drive 8 gears auto transmission (8AT), said its industrial output reached 1.12 billion yuan by the end of November last year, an increase of 35.6 percent year-on-year.

The high-tech zone has made substantial progress in the construction of an international power industry park, a photoelectricity industry park, a health industry park and a virtual reality science and technology park. It also obtained approval from the central government to build a national independent innovation demonstration zone and, in addition, developed an e-governance system, offering improved accessibility and convenience for residents.

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