Hong Kong investment totals $ 5.9 billion

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Category: Ningbo Business

Published: Tuesday, 10 July 2012 08:19

Yuyao Poly Properties Co., Ltd., wholly invested by Yunsheng Co., Ltd. (Hong Kong), a wholly owned subsidiary of Poly(Hong Kong) Investment Co., Ltd., settled in Yuyao last year. The total investment amounts to $2820 million with the registered capital of $1410 million and the foreign investment in actual use $1410 million. At present, the process moves smoothly.
Since Hong Kong’s return to the motherland 15 years ago, the economic trade cooperation between Yuyao and Hong Kong pervades the Siming region. In light of the latest statistics released by the Investment Promotion Bureau, before June 1, 1997, the new batch of Hong Kong enterprises numbered 157 in Ningbo, with total investment of $310 million, contracted foreign capital $900 million, and foreign capital in actual use $700 million. While from June 1, 1997 till now, the number of aggregated new Hong Kong enterprises has increased to 589, with total investment to $593.6 million, contracted capital and foreign capital in actual use $3.209 billion and 1.729 billion respectively. By contrast, we have seen a rapid investment growth of Hong Kong corperations in Yuyao, a hot destination for Hong Kong businessmen.
In the past 15 years, Hong Kong enterprises took root in the land of Siming region and thrived together with local businesses. Jiefeng Refrigeration Equipment (Ningbo) Co., Ltd. founded in 1992 is one of the examples. On December 1, 1992, Hong Kong businessman Zhen Zhaowei, for his first-sight-love for Yuyao, solely founded the company to mainly produce refrigeration equipment such as air conditioner. In June 24, 2004, the company experienced the industrial restructuring, with its name changed to "Ningbo Jiefeng Household Furnishings Co., Ltd”. In October 2005, the enterprise raised its total investment to $ 16.4 million, and contracted foreign capital of $ 7 million. In the same year, Jiefeng Household Furnishings Co., Ltd. got listed on GEM of Stock Exchange of Hong Kong. In September 2008, it went public on main board of SEHK. At present, the company has established a long-term friendly and cooperative relation with the international giants and dealers in the area of home furnishing which makes this year’s production and marketing situation a gratifying one.