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CHINA : Development Zones Closed: China has closed 1,000 southern coastal development zones

PACIFIC WATCH

August 16, 1993|From Times Staff and Wire Reports

offering alluring but unauthorized investment incentives, Xinhua news agency reported Thursday. About 200 remaining zones are undergoing inspection and further closures could be ordered, the official agency said. State Special Economic Zone Office Director Hu Ping said the state council had approved only 30 economic and technological development zones in the booming coastal areas. Local officials dazzled by real estate profits have set up about 1,200 unauthorized zones in recent years.

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