Hangzhou, the capital of China’s Zhejiang province, is the southern terminus of the ancient Grand Canal waterway, which originates in Beijing.
Hangzhou Hi-tech Industry Development Zone was established in March 1990 with approval from the State Council as a national hi-tech zone in March 1991.It has become the most influential hi-tech innovation base and the most vigorous economic growth area in Zhejiang Province. 7 out of world top 500 enterprises have invested in the zone. Hangzhou hi-tech zone keeps ranking the third for five successive years among 53 national hi-tech zones in terms of per capital profit. It was approved to be a National software industrialization base, National Integrated Circuit design industrialization base. Preferential taxation policies are provided to foreign-invested companies.
By the end of year 2019, the number of companies in the zone has reached 29,719, among which are 829 foreign-invested companies and 49 listed companies.It has attracted dozens of famed enterprises, including Alibaba, Motorola, Samsung, Fuji heavy industry, NEC, Bosch etc. The prefered investment industries are e-commerce, biomedicine, high-end manufacturing and cloud computing.