Foreign investment in Zhejiang

If we say that South Korea's idol drama attracts a large number of female fans, Japanese animation attracts young people fans, then the Japanese and Korean products are blowing a fresh wind in China which is across time, gender and age.

From popularity of TV set of Panasonic and LG at the beginning of the Reform and Opening up to the fever of buying Japanese Toilet Seat and South Korean cosmetics, their commodities vary from vehicle, ship and manipulators to rice cookers and cosmetics. Its unique "craftsmen "temperament impresses Chinese consumers and at the same time lay the foundation for their development in Zhejiang.

The environment of Zhejiang is very suitable for Japanese and Korean companies to take root, grow and develop. As a province with strong manufacturing industry in which private and enterprises take up a larger proportion, Zhejiang and Korea share a similar development model and strong complementarity; They both belong to the East Asia economic circle which is very active. They are also adjacent in geography and have convenient transportation; They are both from Confucianism Circle, that leads them to close ideas and cultural similarity.

With all the favorable factors, Zhejiang, Japan and South Korea have become not only each other's important trade and investment partners, the last two countries also have become an important source of Zhejiang’s foreign investment. By the end of 2014, Japan and South Korea have invested more than 4700 enterprises in Zhejiang, accounting for 9% of the total number of foreign-funded enterprises in Zhejiang Province; the actual foreign investment hits $ 8.58 billion, accounting for 6.1% of the total amount.

Foreign investment has played an important role in the economic development of Zhejiang. Among foreign-funded enterprises, the Japanese and Korean companies i started earlier, with a relatively larger quantities and higher degree of integration. They focus on their own industry to deepen its development and make their products meticulous and fine distinctions in order to win recognition of market and consumer; they have a relatively stable development and are obviously market-oriented with a high degree of localization of talent and deep local
 integration; they concentrate mainly in the Hangzhou Bay area, especially in Hangzhou, Ningbo, Jiaxing, which demonstrate outstanding industrial agglomeration and strong influence ......

Under the new situation, Zhejiang pays more attention to high-level manufacturing mode and modern management experience of Japanese and Korean companies; while Japanese and Korean companies also focus on Zhejiang’s Investment environmental advantages and the huge Chinese market behind it because of which they prefer to continue to take root in this place with beautiful ecological environment, comfortable living environment. The road of economic cooperation between Zhejiang and Japan and South Korea are getting farther firm, deeper and brighter in the future.