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China Briefings

Reports on China issued by Samsung Economic Research Institute

China Business Intelligence No. 217

China Business Intelligence No. 217

Samsung Economic Research Institute Beijing Office

Nov. 15, 2012

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China's export-oriented economic development zones are regional parks established by the government for specific companies. According to the Department of Commerce, the number of state-level economic development zones and border economic cooperation zones total 132 and 14, respectively, with Korea-China industrial parks in the Qingdao, Chongqing, Shenyang, Tianjin, Wuhan, Shenzhen and Weifang. The positioning of Korea-China industrial parks has become more specialized and hub strategies more reasonable. The key industries of the parks, which include the new energy industry, circular economy industry and creative culture industry, reflect the industrial upgrade trend which is based on high production and low energy consumption. Korean companies must establish a regional center in the three main areas i.e. east, west and central areas, and introduce differentiated strategies to modify their China production and sales positioning strategy. They must also establish regional development plans based on tax preference policies as well as start infrastructure construction according to the industrial positioning of the specific industrial park.

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