US-Ningbo Economic and Trade Cooperation Seminar held

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Category: Ningbo Business

Published: Tuesday, 13 December 2011 20:28

US-Ningbo Economic and Trade Cooperation Seminar was held in Nanyuan Universe Deluxe Hotel on the morning of December 9. Vice-mayor Wang Renzhou and Tom Barrett, Mayor of Milwaukee attended the seminar and made speeches.

Located in the southeast of Wisconsin State, Milwaukee is an important lake port and commercial city in the United States. And since May 2006, it has officially established a friendly exchange relationship with Ningbo.

During the session, related officials from Milwaukee Urban Development Bureau and Milwaukee Chamber of Commerce and responsible personnel from Rockville Automation Company and Harley Davidson Motor Company made a detailed introduction of the investment environment and economic and trade cooperation in Milwaukee and invited Ningbo entrepreneurs to invest there. Representatives from dozens of Ningbo enterprises were present at the seminar

I/E Volume:10 Times Growth in 10 Years

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Category: Ningbo Business

Published: Tuesday, 13 December 2011 20:26

Over the past ten years, the trade scale of imports and exports in Ningbo increased over 10 times since China's WTO accession. The dependency rate of foreign trade has increased from 56.2% to 110%, the actual use of foreign capital amounts to 80% of the total and the foreign direct investment increases from 10 million US dollars to 1.2 billion US dollars. In a short period of ten years, Ningbo has realized a leapfrog development with container throuput rising from 1.21 million TEU to over 13 million TEU. These were the statistics released at the Ningbo WTO Affair Consultation Center held a couple of days ago.
There are over 100 foreign trade enterprises with respective output value exceeding 100 million US dollars in Ningbo.
Ningbo made great effort to promote an open economy by taking full advantage of port logistics and private economy. The total volume of imports and exports increased from 8.89 billion US dollars in 2001 to 97 billion US dollars this year. Now Ningbo has basically formed the export commodity structure relying mainly on electrical products supplemented by textile, clothing and light industrial products as well as the import commodity structure relying mainly on resource products and raw materials.
The number of foreign trade businesses has increased from over 1,000 to over 11,000, making direct trade contacts with over 220 countries and regions in the world. In terms of the ranking of imports and exports, Ningbo has risen to the 9th from the 14th last year among 36 provinces, cities, autonomous regions and cities separately designated in the state economic plan.
The foreign direct investment has increased from 10 million US dollars to 1.1 billion US dollars. The registered foreign-funded enterprises in Ningbo reach 5,772, with registered capital totaling 25.56 billion US dollars and actual capital contribution totaling 23.81 billion US dollars. At present, 34 enterprises of the world top 500 have founded 75 subsidiaries in Ningbo including IBM, ITOCHU, SAMSUNG, etc.
The capability of Ningbo companies to invest abroad was enhanced constantly, from single labor export to oversea takeover, research, exploration, etc. Last year, 36 of the 100 top Ningbo companies had oversea returns, with 5.157 US dollars oversea assets and 30,000 employees overseas

100 major projects well under construction

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Category: Ningbo Business

Published: Tuesday, 13 December 2011 20:27

The construction of major programs outlined in the “Six Speed-ups” strategy has come to an end this year. On the morning of Dec. 6, the  Discipline Inspection Commission and the Supervision Bureau of the city held a meeting on the construction of major programs for the purpose of unifying the thinking and seeking solutions to difficult problems to ensure the smooth implementation of the “Six Speed-ups” strategy.

In the meeting, the Municipal Development and Reform Commission made a report on the progress of the implementation of the “Six Speed-ups” strategy. By the end of this September, 100 programs were progressing well and 32.298 billion CNY had been invested accounting for 72% of the planed total for the year. However, the development was not balanced, and some programs developed slowly, even not reaching 60% of the annual plan. The Party Secretary Wang Huizhong said the competent departments should analyze problems and seek solutions to accelerate the construction.

The conference pointed out that the difficulty of the project mainly lied in the restriction of their construction conditions. Against the background of macroeconomic regulation, companies met with many difficulties, such as the widening financing gap, the growing land removal costs and the increasing price and costs of materials, and all these made some companies short of money and affected the realization of annual plan.

The conference requested that each department strengthen the urgency and problem-solving awareness and make every effort to properly solve the financing and land acquisition and removal problem.

It required the competent departments must strengthen the safety awareness and properly handle the relationship between the quality and safety and the relationship between the progress and stability. They must be clean-fingered and build the prevention and control mechanism of corruption which adapts to the major programs construction. The audit and supervision of the construction, the project check and the fund management should be strengthened. We should build a solid fire wall of corruption in the construction of government investment project.

At present, the Discipline Inspection Commission and City Supervision Bureau have finished the questionnaire survey on the construction of the 100 major programs and will make spot inspections in the near future

Ningbo rice wine meets with great favor in overseas markets

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Category: Ningbo Business

Published: Tuesday, 13 December 2011 20:20

Rice wine, whose cradle is in China, and beer as well as grape wine, are three most ancient wines in the world. Rice wine features seasoning and health care and is the favorite drink of the locals of Ningbo. Today, Ningbo rice wine has gone abroad and is most favorable received among foreign consumers.
Statistics from the Ningbo customs show that 589.4 myrialiter of rice wine has been exported from January to October this year, a year-on-year rise of 22.6% over the same period last year. And its trade value is $ 3.1 million, with an increase of 30.9%. During this period, the average price of rice wine is $ 0.53 per litre,  increasing 8.2% from $ 0.49 per litre last year.
The US, Spain and Portugal are three largest import countries of Ningbo rice wine during this period. United States imports 132.8 myrialiter, surging 51.1 times, Spain 83.4 myrialiter, with a decrease of 23.8%, and Portugal 54.6 myrialiter, an increase of 3.6 times. The total import of these three countries accounts for 45.9% of Ningbo rice wine exports