16th Automobile Expo to open

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Category: Ningbo Business

Published: Wednesday, 31 August 2011 14:51

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.

Ningbo scored a harvest in HK Culinary Exhibition

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Category: Ningbo Business

Published: Thursday, 18 August 2011 10:43

The three-day-long Ningbo (HK) Quality Farm Produce and Famous Tea Exhibition concluded a couple of days ago. The exhibition offered displays, promotions, trade talks and introduction of foreign capital. Through achievement exhibition of modern agriculture, quality farm produce showcasing, promotion of agro-projects and trade talks, Ningbo well exhibited its charm in farm produce.

The exhibition totaled 500 m2 in area. A total number of 51 major agricultural businesses of Ningbo took part in it. The produce exhibited embodied the features of brand, green, environment-friendliness and tradition. During the exhibition, the city offered 200 investment projects. Cooperative agreements involving 680 million yuan were signed and intentional agreements of cooperation signed 1.25 billion yuan. Some 3000 business people from 31 countries and regions such as the US, Japan and Korea came to the fair to hold talks with Ningbo companies. They talked about cooperation on products of aquatic products, cereal and oils, vegetables, fruit juice and wine, etc, totaling 300 items.

In Hong Kong,  20 companies like Wanghai Tea Company, Zuocaiwang Seasonings, Sanxue Foods, etc were organized to visit Hong Kong's largest food supplier CRC and Lifestyle International Group. They talked to explore possibilities for cooperation.

Ningbo Liftstar creates a new logistic model

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Category: Ningbo Business

Published: Tuesday, 23 August 2011 08:47

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.

Overseas Ningboese Economy Expanding

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Category: Ningbo Business

Published: Thursday, 18 August 2011 10:40

This year more and more Ningbo companies are making investments abroad. Information from the economic and trade bureau shows that during the first seven months of the year the city has newly approved 110 overseas investments and agencies, with the investment amount of 795 million USD, higher than last year's total (521 million USD), which set a historical high.

Encouraged by the city government, more Ningbo companies are going global. They are seeking to develop both domestic and international markets in a higher level, through merger or investing on mines to obtain raw materials, talents, technology and brand.

Developed countries like Germany are the priority destinations for Ningbo companies to make investments. In early June, Ningbo SHIP Group successfully procurement 66.67% shares of the German Vivanco company with 10 million euros. Another Germany company, Pury, a supplier of auto parts based in Bayern, was purchased by Ningbo Joyson Group. After the procurement, the Joyson Group owns a majority of equities and core technologies. The two parties would jointly run a transnational that generates over seven billion yuan per year.

Ningbo companies also made a breakthrough in making investments of service industry overseas. In April this year, an unknown company Shenbo Transport established a Ningbo Yiman Catering Co., Ltd. With 100,000 USD, which was the first overseas investment of the kind of Ningbo. Some time later, the XYYG Group opened its ISQUARE plaza in TST(Tsim Sha Tsui) of HK. It has a floor space of 500 M2. For the next step, XYYG plans to open restaurants in Tokyo and Singapore.

Top 100 companies represented by Youngor and FIRS have claimed the leading role in Going Global drive. Two years ago, FIRS signed a framework agreement with Australian Heron Resources Limited to conduct cooperation in a Ni Co project. A number of private companies such as the Yinyi Group and the Chunhe Group are engaged in mine development in Canada, Brazil and the Philippines, making them their backbone industry. The Top 100 Chart released shortly before indicates that 36 of them have investments overseas, with the assets overseas reaching 5.16 billion yuan, employing over 30,000 people.

By the end of July, Ningbo has got 1353 companies and agencies invested overseas, with the Chinese investment totaling 2.38 billion USD. The business scope keeps expanding, from the original export of labor services to procurement of brands, research and development, development of overseas resources, high sea fishing, etc. "Globalized economy is economy of transnationals. During the 12th Five-Year Plan period, we will encourage more companies to make investments overseas and to foster more transnationals of our own", said Mr. Yu Danhua, chief director of the foreign economic and trade bureau.