Introduction
Approved by the Jiangsu government in 1998, Huai'an Economic and Technological Development Zone (HAETDZ) covers an area of 73km2, and 22 km2 has been developed.
Huai'an is a small city in northern Jiangsu. In 2003, its GDP reached RMB 42 billion (USD 5.08 billion), about 15% of that of Suzhou. Jing-Hu Expressway (Beijing to Shanghai) and Tong-San Expressway (Tongjiang to Sanya) cut through Huai'an. Although Huai'an's economic development is relatively slow compared to other cities in southern Jiangsu, it is rich in natural resources. Its deposit of rock salt ranks first in the world. The production of mirabilite also ranks the first in the world. Related fine chemicals industries could tap on the rich resources of non-metal minerals.
Investment Climate
In terms of GDP, Huai'an is one of the smallest economies in Jiangsu. In terms of growth rate of FDI, however, it is one of the highest in Jiangsu. In 2003, the utilized FDI reached in Huai'an was 113% higher than in 2002. But in terms of absolute value, the size is very small. In 2003, total utilized FDI reached USD 100 million.
One of the biggest enterprises to have established itself in HAETDZ is Hankook Tires, a joint venture between a Chinese enterprise and a Korean tire maker. The total investment is about USD 338 million. Another big investment is Jiangsu Stokota Special Purpose Vehicle, which is a joint venture with Stokota and BMI (Belgium). Its annual output of is more than 5,000 vehicles. Manufactured special purpose vehicles include tankers
