Founded in 1992, Yuyao Economic Development Zone was one of the first provincial economic development zones and the first pilot development zones of integration and promotion. With an existing planning area of 105.15 square kilometers, it has formed an industrial platform with four cities including Zhejiang Yuandong Industrial City, China Light Industry Moulds City, East New City, Binhai New City and West New City, two parks including West Industrial Park and One-thousand Talents Plan Industrial Park and one center, namely Scientific Innovation Center. The Zone has passed the IS014001 international environment system certification. To this day, it has introduced 2998 various projects and attracted a total investment of RMB 82.74 billion, among which are 370 foreign-funded enterprises, and the foreign investment in actual use is $1.808 billion. In 2013, the Development Zone achieved the industrial sales of RMB 123.5 billion and a total volume of foreign trade of $8.2 billion.
Yuyao Economic Development Zone will be further to push the construction of some key blocks such as Binhai New City, Chengxi Industrial Park, Technological Innovation Center, "Plan in Thousands of People" Industrial Park
Binhai New City is close to Hangzhou Bay in the North and 11 kilometers from Hangzhou Bay Bridge, with a planning area of 67.39 square meters. It is one of the ten industrial cluster areas of key construction included in “Ningbo Marine Economic Development Program” .
According to the program, Binhai New City will include eight industrial parks, including national new fiber materials industrial park, plastic industrial park, auto parts industrial park, small household appliances industrial park, the industrial park of new materials for house furnishing, newly developing industrial park .modern logistics industrial park and Japan Industrial Park . The infrastructure oft Phase One has achieved the high standards of “nine connections and one leveling” , attracting 53 projects and a total investment of RMB 12 billion. By 2020, the total industrial output value is expected to break through RMB100 billion, equivalent to the total of the production value of scale-above enterprises of Yuyao in 2012.
Located in the East New City, the Scientific Innovation Center occupies an area of 80 mu and the total construction area is 138,000 square meters. It is the incubator of the sci-tech enterprises of Ningbo, the undergraduates innovation park of Ningbo and the incubation base of one-thousand talents industrial park. It has also signed a strategic cooperation agreement with national sci-tech enterprise incubator Ningbo Sci-tech Innovation Center and put up the plate of “Yuyao Branch of Ningbo Sci-tech Innovation Center” . Presently, there are 49 enterprises registered in the park, which are engaged in such emerging industries as electronic information, medical apparatus and instruments, software development, etc.