China’s devt zones stabilizers of foreign trade, investment

BEIJING: China’s state-level financial and technological improvement zones are an vital platform for opening up and stabilizing international commerce and funding, the Commerce Ministry mentioned.

In 2021, international commerce within the 217 improvement zones assessed by the ministry totaled 8.9 trillion yuan (about $1.31 trillion), accounting for 22.8 p.c of China’s complete international commerce, knowledge from the ministry confirmed.

Specifically, commerce in high-tech merchandise within the growing zones reached 3 trillion yuan in 2021, accounting for greater than 1 / 4 of the nation’s complete high-tech commerce quantity.

Overseas direct funding in these growing zones, in precise use, was about $38.2 billion, accounting for 22 p.c of the nation’s complete funding, the information confirmed.

The event zones confirmed stronger scientific and technological innovation functionality, the evaluation confirmed, with the variety of R&D establishments at or above the provincial degree rising to 10,400 by the tip of 2021.

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Official knowledge confirmed that the mixed gross home product of those zones was 12.8 trillion yuan in 2021, accounting for 11 p.c of China’s complete.