Pinghu Economic Development Zone
The Pinghu Economic Development Zone (PEDZ) is located in the northwest corner of Pinghu city, only three kilometers from the city center, with a planned area of 27.5 square kilometers (the first phase covering 16.19 sq km has been completed and the second phase covering 11.31 sq km is under construction).
PEDZ is a provincial-level zone for the information industry, and the only investment zone for Japanese enterprises approved by Zhejiang province. It is home to the Jiaxing National Machinery-electronic Components Industrial Park, the core area of Pinghu national optical-machinery-electronics production base, listed in the Torch Plan of China's Ministry of Science and Technology, and is one of the development zones where Japanese enterprises are most concentrated in Zhejiang province.
PEDZ has attracted worldwide enterprises to invest, including those from Japan, Germany, South Korea, Spain, the US, Sweden, Italy and France. Leading Japanese enterprises settled in the zone, including Morinaga, Nissin Foods, SSK Food, Mitsubishi Chemical Food, Inabata Perfume, Nisshin Steel, JFE, Nidec, Tsugami, Okaya, Sinto, Kanto Tatsumi, Totoku Electric, Mimaki, Kuroda Precision, Dorency, and Jujo Ink. Typical European and American enterprises have settled too, including Cargill, SKF and Hirschvogel; South Korean enterprises include Samsung, SK and Posk. Taiwan-invested enterprises mainly include Nanliu Enterprise, Master & Frank Enterprise, Fotek and Zhongxing Weaving.
So far, 18 of the Fortune 500 companies have invested in PEDZ, accounting for an eighth of all Fortune 500 companies in Zhejiang province.
The infrastructure construction of PEDZ's first phase has been completed, including roads, supply systems of power, water, gas and steam, drainage systems and factory buildings, all meeting national standards.
PEDZ is situated northeast of the Hangzhou-Jiaxing-Huzhou Plain of Yangtze Delta, north of Hangzhou Bay, and at the center of the Shanghai Economic Circle. It is 90 km from Shanghai to its northeast, and 95 km from Hangzhou to its west. The region has become the country's most developed and the most intensive area for the manufacturing industry.