Dalian in Northeast China's Liaoning province has invested 16.8 billion yuan ($2.64 billion) in building the China-Japan-South Korea Circular Economy Demonstration Base, said Shang Shuchen, deputy director of the Dalian Recycling Industry Economic Zone.
In June, the National Development and Reform Commission, China's top economic planner, the Ministry of Foreign Af airs and the Ministry of Finance approved plans to build the base in the Dalian Recycling Industry Economic Zone in Zhuanghe.

The idea to build the demonstration base, which will have two outlets in Zhuanghe and Tianjin, was suggested by leaders from China, Japan and the Republic of Korea during the second China-Japan-ROK Leaders Meeting in Beijing in 2009.

"Dalian is an important gateway for Northeast China's reform and opening-up and an important hub for China's cooperation with Japan and the ROK. Zhuanghe has the capacity to take over industries transferred from Japan and the ROK, and the demonstration base will play a big role in China's cooperation with the two countries," Shang said.

The Dalian Recycling Industry Economic Zone covers 97.8 square kilometers and is home to industries including furniture, wind power, new materials and organic agriculture. Zhuanghe port in the economic zone is a national first-level open port and one of the closest Chinese ports to Japan and the ROK.

"A total of 39 enterprises, including 20 from Japan and the ROK, have started operations in the National Demonstration District of Ecological Industry, a core area of the China-Japan-South Korea Circular Economy Demonstration Base. Their investment totals 4.2 billion yuan," Shang said.

China Iron and Steel Research Institute Group signed a preliminary agreement with the demonstration base to invest 800 million yuan in a project that processes used tires. Brilliance BMW is also planning to invest 1.2 billion yuan in an auto parts factory in the base, Shang said.

Source:China Daily