In 1998, Zhejiang continued to improve is infrastructure, and a favorable turn was manifest in this aspect of the investment environment, as 24billion yuan was invested in 70key construction projects. Meamwhile, Zhejiang attached great importance to foreign-related economic management and services, and constantly strove to improve its investmetn environment. At present, a system of foreign-related management and services, which meet international economic standards, is taking shape.

Better Use Made of Harbor Resource Advantages
240km of the coastline of Zhejiang is suitable for the construction of harbors. 58 harbors, the major ones being those of Ninbo, Zhoushan, Zhapu, Haimen and Wenzhou, have been constructed, with 41 berths of 10,000 dwt capacity or above. Shipping lanes stretch from these harbors to more than 400 ports in over 70 countries and regions worldwide, with regular passenger or cargo ship lines to the United States, Japan and Hong Kong. Being Port in Ninbo, one of China's four top transrer harbors, can handle freighters up to 300,000 dwt in size and is China's largest and bset-equipped one of iron ore transshipment base. In 1998, the volume of freight handled by Ninbo Harbor reached 87.09 million tons, ranking second in China. Zhoushan Harbor has become the biggest of its kind in China. Aoshan Harbor in Zhoushan, with 250,000 dwt oil transfer berths, made Zhejiang the first province in China with the ability to accommodate oil transshipment from supertankers.

New Achievement in Posts and Telecommunications
Zhejiang has basically built up a province-wide network of speed mail transportation by a variety of means, including by air, railroad an highway services. Express mail service is available in the major cities. Post office at the county level and above use electronic equipment at their service counters. Zhejiang is one of the leading provinces in China in the number of postal air routes, with 71operating out of bases in Hangzhou, Ninbo, Wenzhou and Jinhua and Connecting to every major city in the country. In the field of telecommunications, in 1998, there were 12.33 million users of telephones, and 3.7million users of mobile phones, ranking fourth and third respectively among all the provinces in China. Automatic long - distance dialing exchanges have been installed in every municipality and prefecture. International and domestic automatic long-distance program-controlled exchanges link the province with over 1,900 cities in China and 214countries and regions abroad. Paging and mobile phone services are available in all cities and counties, which enables automatic roaming communication with over 20 countries an regions. Long-distance trunk lines within the province have been converted from electric cable to optical fiber, reaching every township of the province. With over 55,800 users of Internet and data communications, a modern communications network by a variety of means has been formed. In 1998, 995,000households had telephones newly installed. At the moment, 20.5 percent of the province's residents own a telephone.

Flourishing Road, Rail and Air Networks
Zhejiang has 6national highways and 66 provincial arterial highways, with a total length of 38,900 km, of which 343km are expressways. Following the completion of the Shanghai-Hangzhou-Ninbo expressway, the province is pushing ahead with the construction of the Ninbo-Taizhou-Wenzhou, Hangzhou-Jinhua-Quzhou, Hangxhou-wenzhou expressways. Some parts of the expressways have been opened to traffic. With the provincial capital of Hangxhou as the hub, Zhejiang's main railway lines are the Hangzhou-Shanghai, Hangzhou-Jiangxi and Hangzhou-Ninbo multi-track tailroads and the Hangzhou-Xuanxheng and Jinhua-Wenzhou railroads. Zhejiang has seven airports at Hangzhou, Ninbo, Wenzhou, Huangyan, Yiwu, Quzhou and Zhoushan(Zhujiajian)respectively and operate over 160domestic and international air routes. Construction of the Xiaoshan International Airport in Hangzhou has already started. Traffic in the province has become covenient.

Power Production Steadily Reinforced
Zhejiang is one of China's most advanced provinces in the utilization of water, thermal, wind ,tidal and nuclear power resources. Besides the large-scale electric power plants at Beilum, Zhenhai, Taizhou, Changxing, Wenzhou and Jiaxing, there are largescale hydro-electrical power plants on the Xin'an, Fuchun and Wuxi rivers and at Jinshuitan. The first stage construction of the Qinshan Nnuclear Power Station in Haiyan Country has been finished and put into operation. and the second and third stages will be completed soon. The total installed electricity capacity of the province is 14.33 million kw. Total electric power generated in 1998 was 53.6billion kwh. At the moment, preparations are nuder way for the construction of the Sanmen Nuclear Power Station and Tankeng Hydro-electrical Power Station. In addition, in the coming decade, a number of large thermal power stations are expected to come on stream. There is now a sufficient supply of electric power in the province.

Sturdy Foreign Economic Management Organizations
In order to solidify unified leadership of its foreign-related economy and its work of opening up to the outside world, the provincial government has set up a committee with the authority to make decisions in these spheres. In 1998, it established the Foreign Investment Administration of Zhejiang Province to take charge of foreign-related cooperation and investment. Every administration at the county level and above has an organization in charge of foreign trade and investment, which are linked in a network.

Gradual Coordination Between Laws and Policies
In the course of implementing the relevant state laws and policies, the Standing Committee of Zhejiang Provincial People's Congress and the provincial government have enacted more than 20 laws, regulations, administrative rules and policy documents, which concern the development of foreign trade, the establishment and management of economic development zones, favorable tax policies, loans, the right of use and transfer of state-owned land, real estate development, management of foreign exchange, guarantees for the autonomy of foreign-invested enterprises and simplification of entry and exit procedures. Laws and policies guaranteeing the autonomy of foreign investment have been established.

Continued Improvement of Investment Service System
A province-level foreign investment service center has been set up , and every city and prefecture in zhejiang has a foreign-related economy advisory body. The provincial, municipality and prefecture authorities have delegated foreign-related examination and approval functions to lower levels, and simplified the relevant proceedings. The departments at every level of the customs, commodity inspection, finance, banking, goods and materials, posts and telecommunications, construction, personnel, labor and other public undertakings provide convenience and services for investors in accordance with the laws and regulations.

INVESTMENT ENVIRONMENT Zhejiang Provincial Association for cultural Exchange with Foreign Countries
Address:1 Shengfu Road, Hangzhou City P.R.China
Tel:(0571)7052500 7057125
Fax:(0571)7054686
Zip code:310025

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