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Total Retail Sales in the first half this year

According to Ningbo Municipal Bureau of Trade, from January and June, the total retail sales of consumer goods reached 92.403 billion yuan, up by 16% over the same period of last year. In June, the growth rate reached 20.2%, ranking the first in Zhejiang.

From January and May, affected by such factors as the termination of the automobile replacement policy, the enlarged control of the real property market and the rise of commodity prices, affected by such factors as the termination of the automobile replacement policy, the enlarged control of the real property market and the rise of commodity prices, the sales value and growth rate of traditional commodities both declined. In June, however, with the adjustment of the personal tax system, the control of the commodity price, and the upgrading of consumption, the consumer market considerably recovered.

In June, the wholesale value reached 5.468 billion yuan, increased by 45.1%, covering 5.92% of the gross retail sales of consumer goods. It is the major factor that contributes to the rise of rise of the gross retail sales of consumer goods. The total sales on the retail markets reached 78.767 billion yuan, increased by 14.5%, covering 85.24% of the gross retail sales of consumer goods. The turnover of the catering business reached 6.734 billion yuan, increased by 14.7% over the precious year, covering 7.29% of the gross retail sales of consumer goods. The turnover of the accommodation business increased by 10.9%, covering 1.56% of the total.

Related person from Ningbo Trade Bureau says, in the latter half this year, the price of port is likely to drop down, and the pressure of the price of commodity might be relaxed, the Japan-made cars might be more in supply, and the state might release some macro-control policies to boost consumption, all this is likely to promote the recovery of the consumer market of the city, to the degree that the retail aggregate of social consumer goods might increase by 16%.

Yinzhou shopping festival closed

On the afternoon of July 24, the 4th Yinzhou Shopping Festival closed after its 10 day's session. The expected win-win result of the consumers, the merchants and the government was reached. According to statistics by Yinzhou District Bureau of Trade, in the 10 days, the volume of direct sales reaches 490 million yuan, an increase of 4.6% over the previous year; the number of customers reaches over 4 million, an increase of 48% over the previous year, and in particular, it reaches 180,000 on July 17 on Wanda Plaza.

The shopping festival was centered on Wanda Plaza and was participated by the 10 big stores and supermarkets and over 200 small shops. Various sales promotion activities were made during the festival.

Boigle's new product put on market

The Ningbo Boigle Smart Technology Co., Ltd., recently developed a new product-RFID-24-hour Block Library which has been put to use in Anhui Library. The 24-hour block library is supplementary equipment for the extension services of libraries. It can automatically finish the procedures of lending and returning books and shelving service, which can increase the coverage of libraries.

Second Ningbo Nottingham Finance Forum Concluded

The second Ningbo Nottingham International Finance Forum was concluded at the Sheraton Hotel on July 13. The forum focused on "Stable Development of Economy and Innovation of Banking Services". The forum was co-sponsored by the CASS, Ningbo Municipality and the Nottingham University of the UK.

The forum was to increase the popularity and influence of Ningbo in financial academia and financial service sectors, and to promote the regional economics and research level on finance of Ningbo.

Prof. Li Yang from the CASS and the former vice prime minister of UK addressed the meeting. Other speakers included Wang Guogang, Qi Bin, Jia Kang, and Wang Yu. The topics discussed included internationalization of RMB, early warning and precautions on financial crisis, developments of global monetary policies and taxation policies and so on.

Ningbo-HK Economic Forum to Be Held Oct. 24

Information from the first work meeting of the organizing committee said the 2011 Ningbo-Hong Kong Economic Forum would be held on October 24.

The forum will take the theme of Pressing Ahead to Create New Achievements. It will center on the strategic deployment of Six Speed-ups by the city government, focusing on the development of HOPSCAs and speeding up of open economy.  It aims to upgrade the city's industries by promoting the exchanges between Hong Kong and Ningbo.

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