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1994-05-02
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<text>
<title>
Economists Worry About Costs of Development Zone
</title>
<article>
<hdr>
Joint Publications Research Service, August 24, 1992
China: Economists 'Worry' About Cost of Development Zones
</hdr>
<body>
<p>[Beijing Xinhua in English 1037 GMT 21 Aug 92]
</p>
<p> Hefei, August 21--Watching the booming economic development
zones nationwide, some Chinese economists worry that development
of those which lack proper start-up environments can only lead
to great waste.
</p>
<p> Some medium and small cities which don't have the advantages
needed to open development zones are eager to set up on their
own. Some cities don't even have good basic transportation and
communication facilities.
</p>
<p> The experts point out that the cost of infrastructural
facilities for an average of one sq km in the development zone
may be about 100 million yuan (18.2 million U.S. dollars). Some
zones cover dozens of sq km or nearly one hundred sq km and
cannot meet such a demand.
</p>
<p> Some development zones received only one or two foreign
investors since their founding, so large patches of land remain
idle. Large sums of human, material and financial resources were
wasted. Some zones even cut down the land-releasing prices to
lure investors only to cause great loss for the country and
dampen the efforts of China's investment policy.
</p>
<p> According to the economists, development zones should be
established on well-chosen locations where there are
geographical advantages and good industrial, technological and
educational conditions, and they should undergo good management,
so that they can bring about fine economic returns.
</p>
</body>
</article>
</text>