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Zone's state title
October 19, 2012, Friday
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THE Ministry of Commerce has granted Yuhang Economic Development Zone in Hangzhou a state-level title.
Vice Minister Zhong Shan was recently in the city to authorize the title for the zone, which is home to several Fortune 500 pharmaceutical enterprises. These include Swiss-based multinational Novartis, France-based Sanofi-Aventis and United States-based Eli Lilly.
The zone achieved 30 billion yuan worth of total industrial output value and 1.8 billion yuan of tax revenue last year.
It is also the only model base of the biological medicine industry in Zhejiang Province.
Yuhang Economic Development Zone, established in 1993 and specializing in high and new technology industries, is a key industry cluster based on biological medicine, electronic apparatus, equipment manufacture, textiles and garments.
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