Zhoushan proves to be magnet for investment

Zhoushan's actual use of foreign investment stood at 214 million yuan ($31 million) as of the end of April this year, official data show.

There were a total of 1,947 newly registered enterprises in the Zhejiang FTZ in the first four months of this year, among which 670 were oil and gas enterprises.

By the end of April, 46 industrial projects each worth over 100 million yuan had made substantial progress. Eight had either begun construction or operations, 12 had acquired land or leased plants, seven had completed business registration procedures, and 19 had signed investment agreements.

A plant funded by Zhoushan Yuqiu Technology Co, mainly specializing in the production of parking robots, is under construction in the city.

Situated in the Zhoushan High-tech Industrial Park, the plant's first phase is expected to cost 30 million yuan. After it is put into use, its annual output is expected to surpass 200 million yuan.

The strong results are primarily due to efforts by local authorities to attract investment.

In early April, the local government rolled out guidelines for attracting investment and dispatched a group of cadres to cities such as Beijing, Shanghai, Hangzhou and Shenzhen to bring in more investment.