China Approves Plan for Creation of the Central Plains Economic Zone

By Dezan Shira & Associates

Posted: 7th January 2013 08:37

To support the balanced development of different regions within the country, China’s State Council officially approved the “Planning for a Central Plains Economic Zone (2012-2020) (guohan [2012] No.194, hereinafter referred to as the ‘Planning’)” on November 17, 2012. The proposed economic zone would cover the entirety of Henan Province, as well as twelve municipalities and two counties in the adjoining provinces of Shandong, Anhui, Hebei, and  Shanxi.

The Central Plains Economic Zone (CPEZ) represents the largest economic zone in the  country in terms of area and population, boasting a total area of 289,000 square meters and a  population of roughly 179 million. Traditionally referred to as China’s “great granary,” the central plains region has long been a leading area for agricultural production – currently contributing to 18 percent of the nation’s total grain output and 50 percent of its total wheat output. Therefore, problems such as reduced farmland, decreases in grain output, and environment degradation faced by the region on its way to modernization are even more challenging than China’s other economic zones. In response, the Planning that has been approved by the State Council offers a coordinated way for the CPEZ to undergo urbanization, industrialization and agricultural modernization without compromising its agricultural development, food security and environment.

Strategic positioning

According to the Planning, the Central Government will turn the CPEZ into a key grain producing region and a modern agricultural base; a national model of coordinated development in industrialization, urbanization and agricultural modernization.

Development goals

 As provided by the Planning, the preliminary planning of the CPEZ will take shape by 2015, and will be further built out into “a prosperous, environmentally friendly region” by 2020.
The key development goals of the CPEZ are listed as follows:
   
 
Dezan Shira & Associates is a specialist foreign direct investment practice, providing corporate establishment, business advisory, tax advisory and compliance, accounting, payroll, due diligence and financial review services to multinationals investing in emerging Asia. Since its
establishment in 1992, the firm has grown into one of Asia’s most versatile full-service consultancies with operational offices across China, Hong Kong, India, Singapore and Vietnam as well as liaison offices in Italy and the United States.  For further details or to contact the firm, please email info@dezshira.com or visit www.dezshira.com.

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