East Asia Business Forum to open in Ningbo in February

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Category: Ningbo Business

Published: Monday, 06 February 2012 09:58

The 22nd meeting of the East Asia Business Council and the 4th East Asia Business Form is to open in Ningbo from February 29 to March 3. The forum is jointly hosted by CCPIT and Ningbo Municipal Government. The theme of the forum is "New Opportunities for the Cooperation in Business of Ningbo's Private Enterprises with East Asian Countries."

It aims to be a platform for the exchanges of the business people of ASEAN and China, Japan and South Korea on the issues of common interest. At the forum, the trade environment and projects of ASEAN, Japan, South Korea and Zhejiang will be introduced.

The attendants to the forum will be the commercial chambers and delegation of entrepreneurs of the ASEAN countries. It will be a good opportunity for companies of Ningbo to explore the market in ASEAN

Ningbo's premiums of insurance in 2011: 14.8 billion yuan

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Category: Ningbo Business

Published: Monday, 06 February 2012 09:55

In 2011, the insurance market of Ningbo witnessed a stable development. The income from the premiums of insurance totals 14.839 billion yuan, increased by 16.21% over the precious year and for the growth rate Ningbo ranks the 9th in Chinese cities. Of the total, the income from the premiums of property insurance reaches 7.985 billion yuan, increased by 16.94% over the precious year nearly the same growth rate of the average of the country. The income from the premiums of life insurance reaches 6.854 billion yuan, increased by 15.38% over the precious year, 8.9 points higher than the average growth rate of the country. For the growth rate Ningbo ranks the 8th in Chinese cities.

The insurance business has made more contribution to the social development. In the past year, the premiums of various kinds amount to 5,500 billion yuan, increased by 17% above the same period of last year. The indemnities amount to 4.814 billion yuan, up by 30.6%. In the year The taxes from the insurance business reaches 430 million yuan and the taxes on vehicle and vessel usage collected on behalf of tax departments amount to 317 million yuan. All this has greatly promoted the economic and social development of the city. The pilot program of the insurance for small loans, the pioneering program in the country, went on smoothly. In the year, insurances were provided to 884 small enterprises and 58 farmers for 1,093 loans, involving premiums of 1.42 billion yuan

Shanghai Volkswagen: the 35th World Top 500 company in Ningbo

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Category: Ningbo Business

Published: Monday, 06 February 2012 09:57

The other day, a project of Ningbo Daxie Petrochemical Company of PetroChina was approved by the National Development and Reform Commission and the Ministry of Commerce. With the project, the gross investment of the company will be increased from 103 million US dollars to 394 million. It is reported that this project aims to promote the comprehensive distillate utilization project. With the project, the annual operating income is expected to reach 40 billion yuan with the annual tax reaching 10 billion yuan.

In the first month this year, Ningbo made great progress in investment invitation. According to statistics of Ningbo Foreign Economic Cooperation Bureau, in January, Ningbo accepted 22 foreign investment projects, with the investment totaling 1.279 billion US dollars. The contract foreign capital amounted 513 million US dollars and the actual utilized foreign capital 280 million US dollars, increased by 18% and 15% respectively against the same period of the previous year.

Ningbo is favored by a number of the World Top 500 companies. Early in January, Shanghai Volkswagen started its Ningbo project in Ningbo Hangzhou Bay New Area. It is the first international automobile project settled in Ningbo. So far, Ningbo has 35 World Top 500 companies including Wal-Mart, Mitsubish Chemistry and Dupont. These companies opened 79 enterprises in Ningbo, and the investment totals 7.97 billion US dollars

Ningbo's new high in patents

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Category: Ningbo Business

Published: Monday, 06 February 2012 09:54

Statistics from the state authoritative source show that in 2011 Ningbo filed 45,000 patent applications, of which 35,000 were granted, outnumbering the other 14 quasi provincial cities except Shenzhen, however, in the previous year, Ningbo ranked the fourth position.

In 2011, the number of patent applications in Ningbo totaled 47,582, up by 80.2% over the previous year while the number of patent grants amounted to 37,342, up by 43.8% over the previous year, both ranking the first in Zhejiang Province. In 2011, 1625 patents were granted, up by 34.4% year on year.

Reportedly, with the further implementation of the intellectual property strategy in recent years, both patent applications and patent grants keep rising in Ningbo. Since 2006, the average annual growth rates of patents grants and invention patents in Ningbo maintained 45.2% and 47.6% respectively. From 2006 to 2011, the total number of patents grants hit 103,120, accounting for 81.6% of the total amount since the implementation of China's Patent Law in 1985. By the end of 2011, the total number of patent grants had reached 126,379