Copyright 2022 - Ningbo Life / Ningbo Expat

The society of young entrepreneurs reach strategic cooperation agreement with 8 banks

On the afternoon of August 28, the municipal youth league of Ningbo held a conference for banks and enterprises, at which 8 banks and the municipal society of young entrepreneurs signed an agreement of strategic cooperation, by which the banks will provide the society with another ¥6.7 billion in credit and financial support in 3 years. Present at the conference was vice mayor Xu Wendong.

In recent years, enterprises have been faced with the difficulties of rising financial cost and mounting prices and unstable capital supply. Many entrepreneurs at the meeting expressed the strong wish to get more support from banks.

To construct a more convenient financial platform for enterprises, the society of young entrepreneurs signed an agreement of strategic cooperation with 8 banks to provide in 3 years another total sum of ¥6.7 billion in credit and financial support.

It is learned that the conference is one of the activities of the municipal youth league to promote the upgrading of economy. The construction of such a financial platform is only a good beginning.

18 Ningbo enterprises listed in Top 500 Private Enterprises of China

On August 25, All China Federation of Industry and Commerce and CCTV announced the list of the large private enterprises of China for 2010. Ningbo has 18 enterprises listed in Top 500 Private Enterprises of China, and Zhejiang has 144.

Of the 18 enterprises of Ningbo, 4 are among the top 100. They are: Ningbo Youngor Group Co, Ltd.(No.29), Ningbo Jintian Group (No.36), Aux Group (No.45), Grand Group Corporation (No.71).

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On August 25, the National Federation of Industry and Commerce of China issued the ranking of above-size private enterprises as a result of a survey. According to the survey, 114 Zhejiang enterprises are listed among the top 500 private enterprises, of which 18 are from Ningbo, ranking the third in Zhejiang. According to related personnel from the federation, another ten enterprises from Ningbo are actually qualified but prefer to keep a low profile and, therefore, are not included in the list.

The national federation of industry and commerce has conducted surveys of above-size private enterprises for 13 years. Enterprises can choose to be or not to be included in the survey and ranking is done acceding to the index of total income. The threshold to the 2010 list is ¥5.059 billion while it was ¥3.66 billion in 2009.

227 Ningbo enterprises with total income over ¥300 million participated in the survey of 2010. according to up-to-date figures, in 2010, there were 127,035 private enterprises in Ningbo, with a registered capital of ¥255.43 billion, constituting the major component of Ningbo's economy. Accounting for over 80% of Ningbo's GDP, over 76% of Ningbo's tax revenue and providing 87% of the jobs in Ningbo.

Of the 18 Ningbo enterprises in the top 500 list, 4 are listed in the top 100. they are Youngor, Jintian, Aux, and Yuanda Group.

A comparison with these "top 500" enterprises reveals that another ten Ningbo enterprise are qualified for the top 500 list but, for all reasons, did not choose to apply to be included in the list.

16th Automobile Expo to open

According to a related meeting recently held, the 16th Ningbo International Auto Expo is to open in Ningbo International Conference and Exhibition Center from August 26 to 29. This expo is sponsored by Ningbo Daily Newspaper Group and Ningbo Jiangdong Qiancheng Exhibition Co., Ltd..

As one of the top 100 exhibitions of China, the expo this year will open in 8 exhibition halls of the center, with the exhibition area of over 60,000 sq m. Over 400 models of cars from about 70 brands home and abroad will be exhibited.

Increasing export of Cixi-made products to Peru

Since March 1, 2010 when the Free Trade Agreement between the People's Republic of China and the Republic Peru was put into effect, the trade between Cixi and Peru has been growing rapidly. Statistics from Cixi Foreign Trade Bureau show that in 2010, the export of Cixi to Peru values 24.42 million US dollars, increased by 47.7%% over the same period of last year. In the first half of 2011, the export of Cixi to Peru values 12.92 million US dollars, up by 18.5 % over the same period of previous year. The products Cixi exports to Peru are mainly bike components, home appliances, washing machines, clothes and baby strollers.

Ningbo Liftstar creates a new logistic model

Speaking of large modern enterprises, what comes to people's mind are often big workshops, workers, assembly lines, etc. But in Yinzhou, a logistic company has been outstanding for 28 years with its virtual business management model and information management philosophy. Being a leading company of logistics, the company named Liftstar has contributed a lot to the local economic development.

Like a great majority companies, Liftstar once took the structure of "management + workshops", each workshop having a director. "A big disadvantage of this model is that nobody would like to take the responsibility if something happens, which would lead to low efficiency", said Wang Wenping, the Chairman of Board.

In 1992, Liftstar developed its first manual hydraulic pallet truck, which marked that the company had stepped into the manufacturing of logistics equipment. Since then, Wang Wenping has started thinking about the change of the future development model. Finally in 1998, he decided to reform the business management model. He broke up all plants and workshops and formed a number of small plants according to the processes of spar parts processing. Then he equipped necessary equipment to each plant. The directors of plants and workshop directors are elected from the employees according to their competence. They would registered a business of independent legal person status, which become the suppliers of the Liftstar.

In face of skepticism and criticism, Wang remains calm. "Many people want to be boss. I just give them the chance. I always believe that to work for oneself can always arouse the motivation and creativity", he said.

After the reform, the creativity of the workers and the work efficiency increased dramatically. Previously, the enterprise generated yearly income of 45 million yuan, while now the sales income reaches 250 million. "So, the same people, same equipment, but with different management pattern, the results come out totally different", Wang said.

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