Panzhihua Fantai High-Tech Industrial Development Zone was upgraded to a national-level development zone and renamed as Panzhihua National High-Tech Industrial Development Zone in October 2015 with the approval of the State Council.
Under China's Belt and Road Initiative, the zone will boost integration of the city’s development and its industries by focusing on vanadium and titanium as well as other industries covering comprehensive logistics and ecological agriculture. It aims to lead the development of the region's economy and become a core base for China's vanadium and titanium industries, a demonstration zone for the good use of local resources and a pioneering area for the province's opening-up policy.
The zone has launched a three-year plan to be a renowned high-tech zone with a gross industrial output value exceeding hundreds of billion yuan by 2021.
It will adjust the layout of the zone and construct a layout of "one district and multiple parks" including roads and office buildings and forge industrial clusters featuring vanadium and titanium materials, maritime and aerospace parts and vanadium storage batteries.
In 2018, the zone reached a gross industrial output value of 55 billion yuan ($8.17 billion), with the output value of high-tech industries achieving 18 billion yuan. The completed tax revenue was 421 million yuan, up 53.65 percent year-on-year.