Industrial Parks

Yangpu Economic Development Zone

Updated: Jan 31, 2019 Print
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Night view of Yangpu Economic Development Zone [Photo/]

Located in the Yangpu Peninsula in the northwest of Hainan province, the development zone was established in 1992 with approval from the State Council. As a national development zone, it enjoys the same preferential policies granted to free trade zones.

The zone has an approved area of 30 sq km with a planned area of 120 sq km. About 50 sq km have been developed with an investment of 77.41 billion yuan ($11.71 billion) since its establishment more than 20 years ago.

It focuses on inviting investment in the following fields: Services relating to the resource exploration in the South China Sea: marine engineering, port construction and operation, South China Sea resource exploration service and petroleum product trading center; Petrochemical and supporting industries: ethylene, propylene, styrene, ethylene oxide, propylene oxide, OX downstream products, rubber and plastics processing and industrial gas; Bonded port-oriented services: Export-oriented processing, warehousing logistics, display, international procurement and distribution, commodity trading; Modern processing and manufacturing: equipment manufacturing and printing and packaging.

In 2007, the State Council approved the establishment of the Yangpu Bonded Port in the development Zone. In 2014, it’s rated as a "national cyclic transformation pilot demonstration park" by the National Development and Reform Commission and the Ministry of Finance in 2014. The zone will continue to develop into a shipping hub, a petrochemical base, an oil reserve base and a pulp production base of Southeast Asia. With years of development, it has gradually created an industry cluster effect.

Yangpu Economic Development Zone boasts the shortest distance to international main sea routes among all of China's petrochemical bases. It is the nearest development zone from the South China Sea, and is the bridgehead for the construction of China ASEAN Free Trade Area and the regional economic cooperation in the Beibu Gulf area. The development zone is surrounded by sea in three directions and richly endowed with deep-water wharf and convenient transportation. In addition, it is a zone downwind and conducive to develop port-oriented industries.

According to the official statistics of 2018, the zone’s industrial output recorded 91.8 billion yuan ($13.7 billion), up 23.8 percent year on year. Its import-export volume totaled 39.7 billion yuan, up 1.9 percent year on year.

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