[photopress:zones_Caofeidian.jpg,full,alignright]Caofeidian industrial area in Tangshan city will have it own industrial investment fund before the year’s end.
The Caofeidian Industrial Investment Fund was approved by the National Development and Reform Commission to raise RMB30 billion ( $4.3 billion) to finance industries in Caofeidian, a development zone in North China.
Tangshan city government Secretary Zhao Yong said, ‘We are making great efforts to establish a financial platform to power the development of companies and industries in Caofeidian. The fund is expected to make financial access easier for projects and businesses in the area.’
The central government selected the Caofeidian industrial zone in October 2005, as a pilot area for developing the recyclable economy. Since then, it has made a major start in constructing facilities and infrastructure for water and power supplies, and transportation and telecommunications. Indeed, the real thing is beginning to look like the model in our illustration.[photopress:zones_Caofeidian_2_1.jpg,full,alignleft]
Caofeidian Industrial Zone Administration Commission Deputy Director Xue Boxun said to date, 43 industrial projects have been started representing a total investment of about RMB200 billion. The projects include large terminals, steel plants and power mills.
Last year, Beijing Capital Iron and Steel Group began constructing new steel plants in Caofeidian.
Source: China Daily