I. Location Traffic 
Location Pingyang Economic Development Zone is situated in the Qun'ao Plain of Ao'jiang River Valley, it is the center of the south of Wenzhou coastal economic belt Near the zone is the national ocean natural protective zone-Nanji Islets Ao'jiang River Valley has formed special economic frame with leather, machinery, plastic knitting, chemical industry and the processing of aquatic products as major industries. Ao'jiang and Nanji are both berth spots for Taiwan ships.

The valley has got convenient transportation on both land and ocean and complete basic facilities of water supply, power-supply and telecommunication. It's a good place for the investment. The development zone is close to the province's five joint freight harbors-Ao'jiang Harbor, which has an annual handling capacity of 1.1 million tons and connects the nation's 20 large harbors. The development zone is only 55 km from Wenzhou Airport and is connected with the national highway #104. The Jinhua-Wenzhou Railroad will establish a substation here.

II. Project Payout
Project Pingyang Economic Development Zone is a province-level economic demonstration zone by the provincial government in August, 1994. The zone started its construction in September 1, 1994. It covers an area of 8.5 sq km and has been divided into two major functional districts: the industrial district and the commercial district.  The industrial district is divided into three sub-districts: The industrial sub-districshoes manufacturing zone and Zhongyu industrial sub-district.After the completion of the first-stage construction of 2 sq km land, the second-stage construction of 3.4 sq. km land is now underway. The development zone is treated with preferential policies of the coastal economic development zone

III、Development and Construction
1. Basic facilities.：By the end of 1997, the development zone had become a prosperous area with 17 enterprises starting business in the zone. The development zone has invested 380 million yuan in the construction and has completed 520,000 sq m of constructed land.

2. Industrial Development：Industrial Development By the end of 1997, the development zone had attracted 118 investment programs, including 82 industrial programs. The total investment introduced attained 1.5 billion yuan with foreign investment of $ 3 million. In 1997, the export profit of the zone reached $ 2 millions, the industrial output value attained 550 million yuan. Among the invested enterprises, Guangyin Group, Liucheng Group, Anda Group, Xinhe Machinery Plant, the Pingyang oil depot of the East Sea Petro-chemistry, and Pingyang Plastic Machinery Company devoted the most in the zone's economic achievements. The provincial key project-shoes manufacturing zone of the development zone is to be constructed. At present, 108 enterprises has been approved to start business in the shoes manufacturing zone. The first-pace of the construction of the shoes manufacturing zone will develop land of 2.38 ac with total constrictive investment of 500 million yuan. The construction program is the largest industrial program in Pingyang's history.

3. The Development of the Tertiary Industry： At present, the tertiary industry programs in the development zone include the south Zhejiang Food Trade Market, Ao'jiang Electrical Machinery Market, the south Zhejiang Garment Trade Market, Ao'jiang Fruit Market, Qianzhuang Vegetable Market in the development zone. Meanwhile, a group of social service programs has been established in the development zone, including Ao'jiang High School, the New Era School. With the fast development of the development zone, the land price has increased quickly.

VI. Development Targets
1. Short-term Target From 1999-2000, the development zone will become a fairly large and advanced industrial city with total industrial output value of 4.8 billion yuan and the trade volume of 1.5 billion yuan.

2. Long-term Target From 2001-2010, the development zone will put stress on the development of hi-tech industry and the tertiary industry. It is anticipated that in the year of 2010, the total industrial output value of the development zone will reach 25 billion yuan and the trade volume will attain 8 billion yuan.

V. Management and Service
Preferential Policies For the application of establishing enterprises in the development zone, the development zone will accomplish relative procedures within one month. And for the other preferential policies and the encouragement regulations in detail, please contact the standing committee of the development zone.

VI. Investment Programs
1、Export-oriented enterprises, hi-tech enterprises, research institutions by the foreign investment; commercial industry, tourism industry and the entertainment industry in the forms of equity joint venture or cooperative joint venture; the development and management of land, basic facilities and public facilities by the foreign investment.

2、Investment in the export-oriented enterprises, hi-tech enterprises and research institutions.

3、Various kinds of technological cooperation with enterprises research institutions and colleges.

Director of the Standing Committee of the Development Zone: Dai Zhushui (Magistrate of Pingyang County)

Vice-director of the Standing Committee of the Development Zone: Cheng Xuguang

Tel: 0086-577-3638176 Hotline: 0086-577-3638177
Fax:0086-577-3639145