The Zhaoqing High-Tech Industrial Development Zone has secured 116 new projects, said to be worth a total of $5.3 billion. These came as a direct result of the Golden Autumn initiative, an annual event organized by the administrative committee of the zone. The event is now one of the key showcases for the zone.This latest success came only two months after the zone signed substantial contracts in Beijing in mid-October, securing $1.6 billion worth of investment for four projects.
Liu Longping, Party secretary of the zone, said the zone secured $3.2 billion across 102 projects during the Dawang Golden Autumn event in 2008 and $3 billion across 88 projects in 2007. He also said that more than 90% of the contracts won by the zone have now been implemented.
China Daily reports the zone was founded in 1998 and is located in the east of Zhaoqing, 50 km away from Guangzhou. The zone covers an area of 98 sq km, 25 sq km of which has been planned as part of its phase one development.