Hangzhou Gulf Fine Chemical Zone is one of the three major chemical industrial areas in Zhejiang Province. It was inaugurated in 1998, with a total land area of roughly 80 square kilometers. Currently Phase I and Phase II construction, which cover 21 square kilometers combined, are near completion; and Phase III construction, planned at 18 square kilometers, is undergoing actively. To date, Hangzhou Gulf Fine Chemical Zone has introduced 115 investment projects -55 of them are now in full commercial run, and a total investment capital up to 7.5 billion yuan RMB, including 140 million dollars of foreign investment mainly from EU, US, Japan, South Korea, Hong Kong and Taiwan.