NingboLife and NingboExpat since 2004 - Ningbo utilized foreign investment of 1.1 billion USD in first five months

Ningbo utilized foreign investment of 1.1 billion USD in first five months

Details: Category: Governmental News; Published: Tuesday, 19 July 2011 14:27

According to statistics of the foreign trade bureau, Ningbo has newly approved 148 foreign investments during the first five months, with the contractual amount reaching 1.88 billion USD, up 41% over the same period last year, with the actual utilized amount reaching 1.16 bln, up 26%. In May alone, the contractual amount reached 435 million USD, and the actual mount 259 million USD, up 52% and 39% respectively.

HOPSCA-(Hotel, Office, Park, Shopping mall and Convention Area) has become a heated spot for foreign investment. During the ZJTIF, the Poly Plaza has been started up in Zhenhai, which consists of shopping malls, entertainment facilities, restaurants, hotels and offices), with planned area of 350,000 m2, which is about 1.6 times larger than the Tianyhi Square. In addition, 555 Group of the US is also to invest 800 million dollars in the Jiangbei District to start up a HOPSCA project.

Statistics show that the foreign investments in the tertiary sector increased by 1.3 times during the five months. Those of scientific research, wholesaling, retailing, rental service, commerce, transportation and warehousing have increased by 6.8 times, 2.9 times, 2.6 times and 51.8% respectively.

The confidence of foreign investors in Ningbo has been strengthened. This year, the Ningbo Airtech Company has increased the total investment from 48.55 mln UD to 84.55 mln USD, with the registered capital increased from 20 million to 32 million. Recently, the company set up an engineering center of 40,000 m2 in Fenghua, with investment of 100 million yuan.

Another example is the Ningbo Guanbao Warehousing Co., Ltd, which increased its investment from 52 million USD to 1,020 million USD. "We are optimistic about the prospect of Ningbo market. Ningbo's maneuver to forge an international big port has consolidated our confidence in expanding investment", said an executive of the company.

Statistics also show that about 100 foreign companies have increased their investment during the first five month, with the contractual investment increased reaching 510 million USD.