More manufacturers commit to Chinese footwear superzone
In an agreement signed last week, sixteen Chinese footwear manufacturers committed themselves to the new Shenyang Footwear Production Zone in the West of the country. According to the agreement, the businesses will together invest ￥452 million ($ 54.4 million) in building new manufacturing premises within the zone.
The signing signals the completion of the first of three phases that will make up the zone . A total of 76 footwear businesses are already located there and by the time phase three is opened, some time in 2008, a total of 450 should be stationed there.
Speaking at the signing on Thursday (August 28), zone director Mr Yanglin said total investment in the 350 acre development was expected to reach ￥10 billion ($1.2 billion), with the estimated yearly production value being ￥50 billion ($6.1 billion).
