Lying in the southwest of Hangzhou and neighboring on the West Lake district, Fuyang Economic Development Zone (FEDZ，富阳经济开发区) was established in 1992, and later in 1994 FEDZ was elevated to a provincial-level development zone, approved by the Zhejiang government. With favorable geographic location and convenient traffic, it is two-hour drive from FEDZ to Shanghai International Airport, and 50-minutes to Xiaoshan International Airport at Hangzhou.

In order to find an effective development way tailored to the real conditions of Fuyang, such as its location, resources and industry structure, in May 1992, FEDZ set up four major blocks, namely the Fuyang Bay, Peasant City, Yinhu and Gaoqiao. To accelerate the process of infrastructure construction and perfection so as to attract more foreign investments, a total of 265 projects have been introduced in FEDZ so far, with gross investments reaching 133.2 million yuan ($20.04 million). Presently, 135 projects have been completed and put into operation. Some 25 foreign-invested enterprises have settled down in FEDZ, with total investment at $426 million.

Taiwan people have invested in many projects, such as the Hangzhou International Golf Course, costing $30 million; CHEDI Holiday Inn, costing $25 million; and Hangzhou Wild Animal World, covering 3.5 hectares and costing 150 million yuan. These establishments have greatly promoted the tourism industry of Fuyang.

Fuyang has more than 50 communication apparatus companies such as Fuchunjiang Group, Futong Group, Hulun Group, Feihong Group and Bell Group. The urbanization of Fuyang has been greatly advanced by the construction of roads including the HangFu highway, Jiangbixi main road and Kowloon main road, as well as blocks such as Yinhu, Peasant City and Fangmachang.

A total of 430 million yuan has been poured into the construction of roads, transforming substations, telephone communication networks, the water supply, heat supply, stream supply and sewage drainage. The economic development of FEDZ is undergoing a swift shift from "one point" of individual enterprise to a "line" of economic belts, toward the ultimate goal of a "space" of a prosperous economic zone.

Four major blocks set up in FEDZ, namely the Fuchun Bay, Peasant city, Yinhu and Gaoqiao, cover a total area of eight kilometers, and in 2001 another 13 km had been allotted as an extension. The zone nestles in the city of Fuyang, and has now extended to the northern plain of the river with No 320 National Highway and the Fuyang-Hangzhou Highway as its wings. FEDZ exploits its industrial advantages to fully develop new hi-tech industry, electronic information and biological medicines.

Fuyang is the biggest base in Zhejiang province for telecom appliances, such as mobile phones, and plays an important role in the domestic telecoms industry: contributing 25 percent of the overall industrial production, and occupying seven percent of the national market.

The Zhejiang government expects to breed an IT economic belt, so as to timely absorb the updated high technology, and to penetrate into the domestic, even global market. A successive construction of a technical industrial park, a bio-medicine industrial park, a new material industrial park, and a medium-sized incubation base is the first step to realizing the goal. The rapid development of the New and Hi-tech Industrial Park has attracted some modern enterprises. Native hi-tech enterprises can be cultivated and incubated by commercializing new products, by cooperating comprehensively with other enterprises and research institutes, and by optimizing the available resources such as talents, technology, capital and information. FEDZ lays a firm platform to attract the investment from transnational corporations, and to promote the establishment of research institutes. The hi-tech zone insists on upgrading its main products.

FEDZ so far has poured more than 650 million yuan on the infrastructure and service facilities, such as water supply, gas supply, electricity power, road and network. Meanwhile FEDZ has signed many cooperation agreements with Hangzhou Electronic Engineering Institute, the Office of Technology, and the Office of Information Industry, so as to welcome the updated technology, knowledge, information and talents. So far every endeavor has been made to serve the purpose of building FEDZ into a "Green Valley", "Ecological Valley" and "Optical Valley", and the aim of laying a concrete foundation for a new industrial city.

FEDZ exercises close management, efficient services and simplified procedures which can be safely guaranteed.

Investment Environment

Traffic: It is only a 30-minute drive from FEDZ to Hangzhou city, 50-minutes to Xiaoshan International Airport at Hangzhou, and two-hours to either Shanghai or Ningbo. Ningbo port can be directly reached via Fuchun River or Qiantang River.

Industry foundation: With abundant human resources, a solid industrial base, sound investment environment, and convenient location, Fuyang has already bred four chief industries: communication apparatus, papermaking, electronics, and building material.

Fuyang is an important domestic base both for the communication industry and papermaking. At present Fuyang has two national famous brands, namely "Chinese white paperboard bases" and "Zhejiang Optical Valley". Fuyang New and Hi-tech Industrial Park cultivate photo-communication, electronic information, bio-medicine, new material industry, and medium-sized incubation.

Infrastructures: 11-year unremitting development has equipped Fuyang with a complete basic infrastructure, such as power supply, water supply, communication network and blow down system. Fuyang has erected three transforming substations of 110,000 volts with a power supply capacity of 300,000 kilowatts, waterworks with a daily water supply capacity of 100,000 ton and program-controlled exchanger with an installed capacity of 50,000 phone sets. Fuyang also has sewage treatment system dealing with 100,000 ton sewages per day, No 320 National Highway and the Fuyang-Hangzhou Highway as FEDZ's wings, as well as all kinds of medium grade and high grade residences, villas, hospitals, schools trade centers.

Natural resources: Laying on 120゜E and 30゜N, Fuyang city is at the forefront of the national golden traveling route of "Hangzhou City-Fuchunjiang River-Xin'anjiang River-Huanshan Mountain", the hub of the Golden Triangle of Shanghai-Hangzhou-Nanjing, and positively influenced by Shanghai Pudong Economic Zone. Fuyang enjoys the subtropical monsoon climate with four distinctive seasons, and is rich in human resources, industrial and agricultural products.

Environmental protection: National class II water quality and first class air quality. In 2002 Fuyang passed environmental ISO 14000 system authentication.

Investment Fields

1) New and Hi-tech Industry Park

　　1、Photo-communication, microelectronic science and electronic information technology

　　2、Space science and space technology of aviation

　　3、Science of the photoelectron and mere electro-mechanics integrate technology

　　4、Life sciences and biotechnology

　　5、Material science and new material technology

　　6、Energy science and the new energy, energy-efficient skill

　　7、Ecological science and environmental protection technology

　　8、Geoscience and marine engineering

　　9、Medical science, biomedical engineering, medicinal project

　　10、Other new technology developed on the basis of traditional industry

2) Scale enterprise, clean industry, industry engaging in foreign exchange

　　1、The pollution-free or low pollution general industrial projects costing over 10 million US dollars

　　2、Machine-building , such as fabric machinery, papermaking machinery

　　3、Car industrial project

　　4、The project of light textile, the silk goods, clothing process

　　5、Leisure goods, stationery sports goods, handicraft

3) The specialized developing zone that develops tourism industry, real estate

Infrastructure

Electricity supply: Three transforming substations of 110,000 volts have already been built in Yinhu, Gaoqiao and Baihe respectively, with a power supply capacity of 300,000 kilowatts. The electricity power supply is abundance and reliable.

Water supply: The developing zone now can access water directly from Fuyang No 2 waterworks with a daily water supply of 100,000 tons.

Communication: With an exchange capacity of 30,000 phone sets, a communication network, such as optical cable, microwave transmissionand mobile communication, has been established in the district with an assembly program-controlled office in newly-built Fuchun Bay.

The construction of a golf course and the traffic network of No 320 National Highway and Hang Fu riverine highway, has been completed.

Sewage treatment: A sewage treatment plant with a daily sewage treatment of 20,000 tons has been built in the district.