Yuanqu Autocar factory
The zone, more commonly known as Xiangfan HIDZ, was established in November 1992 and is near Xiangfan, Hubei. It already has an industrial output of RMB 40.0 billion (US$5.3 billion). It is located in the northern suburb of Xiangfan, the third largest economy and second largest city of Hubei.
Xiangfan HIDZ is one of the 53 state-level hi-tech industrial development zones in China and gained this approval from the State Council in 1992. In 2005, it was merged with Xiangfan Automobile Industrial Development Zone, a provincial level zone.
The newly merged Xiangfan HIDZ covers a planned area of 29.4 km2. It has two sub-parks: a hi-tech park and auto park.
Yiangfan HIDZ
Xiangfan HIDZ is close to Xiangfan railway station and airport. There are four expressways through the zone: Weifan, Xiaoxiang, Hanshi and Xiangjing highway. Two national routes also cross the zone.
In 2007, industrial output of Xiangfan HIDZ reached RMB40.0 billion, an increase of about 30% from 2006 levels.
Alibaba reports the main driving forces behind the development of Xiangfan HIDZ are the high-tech and automobile industries.
Xiangfan HIDZ is one of the key production bases of auto parts in China and in all there are 154 enterprises producing auto parts.