|Zhejiang Business Information|
|GDP (USD)||379 B|
|USD:RMB Exchange Rate||1:6.5|
|Average Mfg Employee Wage (per month)||2,100 RMB|
|Average Industrial Facility Cost (per month)||16 RMB/m2|
|Access to Logistics||Very Good|
Zhejiang province is located on the eastern coast of China, bordering Shanghai to the north and Fujian to the south. While most other provinces in China have come to rely heavily on foreign investment, Zhejiang’s economy has remained remarkably independent and inwardly focused. Its close proximity and connection to Shanghai via a highway bridge has helped spur its economic development, even helping the isolated cities of Taizhou and Wenzhou to develop strong economies. While most other provinces in China have come to rely heavily on foreign investment, Zhejiang’s economy has remained remarkably independent and inwardly focused. Its close proximity and connection to Shanghai via a highway bridge has helped spur its economic development, but even the isolated cities of Taizhou and Wenzhou have developed strong economies based upon the Chinese stereotype that Zhejiang businesspeople utilize active ingenuity and a strong work ethic.
|Major Cities in Zhejiang||Zhejiang’s Main Industries|
In 2008, Zhejiang utilized USD 10.1 billion in FDI and generated a GDP of USD 314.6 billion. In 2009, its FDI fell to USD 9.94 billion, however, the GDP increased by 20 percent to USD 379 billion. Despite its strong home-grown economy, Zhejiang offers several province-wide preferential policies to attract foreign investors, as well as over 70 economically incentivized development zones. At least 85 of the world’s top 500 enterprises have invested in Zhejiang. Its main industries include plastics and injection molding, finance, metal fabrication, textiles and dyes, and motor machinery. In addition, Zhejiang’s financial institutions are strong performers, consistently accounting for over one tenth of China’s financial revenue. Its workforce is fed by 73 universities and other institutions of higher education, with a total enrollment over 572,000.
Zhejiang and its major cities are attractive to many foreign investors. Please click here for more information on
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