Wenzhou Bay New Area launched

Wenzhou Bay New Area. [Photo/tianmunews.com]

The Wenzhou Bay New Area, the seventh provincial-level new area in East China's Zhejiang province, was launched on April 24, local media reported.

The new area in Wenzhou received approval to begin construction in January 2022. The planned area for the Wenzhou Bay New Area spans 158.48 square kilometers and includes the Wenzhou High-tech Industry Development Zone and the Wenzhou Economic and Technological Development Zone.

The new area has been tasked with demonstrating the high-quality development of the private sector, pooling advanced manufacturers from across the Yangtze River Delta region, and integrating the development of industrialization and urbanization.

On April 14, the administrative committee of the Wenzhou High-tech Industry Development Zone signed a contract with Zhejiang Xingyao Semiconductor Co to produce 120,000 5G RF filter silicon-based wafers annually. The project will be Wenzhou's first wafer factory, and the facility will fill a gap in the integrated circuit industrial chain and inject momentum to chip production.

In the Wenzhou Bay New Area, five strategic emerging industries, including digital economy, new energy, new materials, life sciences and health, and intelligent manufacturing, have been developing rapidly. According to statistics, there are several projects that each have an investment of more than 10 billion yuan ($1.45 billion) in the new area, and over 100 industrial projects that each have an investment of over 100 million yuan.

There are nearly 8,000 industrial enterprises in the new area. Among them, 235 enterprises have an output value exceeding 100 million yuan.