Hangzhou Bay New Zone (Chinese: 杭州湾新区; pinyin: Hángzhōu wān xīnqū; literally: "Hangzhou Bay New District") is a new development district in Cixi City, Ningbo, Zhejiang province, southeastern China.
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History
The government of Ningbo decided to set up the new area for economic development in 2001. The area is also known by a number of names such as The Zhejiang Cixi Export Processing Zone or the Hangzhou Bay New Zone
The economic development district is administered by the Zhejiang Cixi Economic Development Zone Administrator Committee which itself is subordinated to the Ningbo municipal government.
The development zone represents a strategic location in the southern tip of the Yangtze River Delta Economic Zone which is the manufacturing heartland of the region. It is also strategically near the emerging Chinese financial centre Shanghai, manufacturing hubs of Suzhou and Hangzhou.
Transport
The hub is served by the Hangzhou Bay Bridge which opened in 2008. The bridge reduces the time from Shanghai to Ningbo from 4 hours to about 2 hours. The authorities are planning the construction another bridge to speed up economic development in the region.
It is also close proximity to the two major deep water ports of Shanghai, Yangshan and the Port of Ningbo. Both major cities are within reach within 2 hours by road.