Large-Scale Industrial Investment Promoted Economic Transformation
- Details
- Category: Ningbo Business
- Published: Tuesday, 23 October 2012 14:22
As the champion of Potassium sorbate production and sales, Ningbo Wanglong Group Co., Ltd. has invested 600 million Yuan to expand its industrial chain since 2009. As a result, Wanglong’s sales reached 1.39 billion Yuan in the first eight months of this year, an increase of 5 times over the same period last year.
Since the beginning of this year, Yuyao enterprises, especially private ones, have kept on increasing their investment in production. In the first nine months of this year, industrial investment in Yuyao reached 9.877 billion Yuan, an increase of 36% over the same period last year. The total amount and the growth of the investment ranked the front row in Ningbo. 80% of the investment was made by private enterprises and 48 newly-launched industrial projects all belong to private enterprises.
Inspired by the leading enterprises, Yuyao enterprises speeded up their pace in transformation and upgrading. The output of Large-scale industries reached 79.94 billion Yuan in the first nine months of this year, an increase of 1.7% over the same period last year, while the output of the four largest emerging industries, ranging from new equipment, new material, new energy and energy-saving to electronic information, reached 36.7 billion Yuan, an increase of 15.6% over the same period last year.
With a goal of further developing the city, we should vigorously promote the development of industry, intensify efforts in industrial restructuring and upgrading, and give great support to the development of real economy, said by Mao Hongfang, Party Secretary of Yuyao. Recently, the city issued a special decision to make the goal clear.
With the support of the government, enterprises were full of confidence to increase the investment to develop real economy. Feng Hua, chairman of Zhejiang Dafeng Industrial Co., Ltd., said that an enterprise should strengthen itself by upgrading and developing. Dafeng started its early operation in film and television connector production and engaged in cultural and sport industries in recent years. At present, it has dominated the machinery market with a share of 60%.
Abundant investment was the magic weapon for Yuyao enterprises to speed up transformation and upgrading. Sunny Optical Technology Co., Ltd. is the largest optical products manufacturing enterprise in China and the second largest seller of optical products in the world. The annual capital Sunny invested in research and development accounted for 5% of sales last year. In 2011, it invested 120 million Yuan in research and development of high-pixel cell phone camera and in introduction of automation equipment. Sunny also paid high rewards to encourage enthusiasm and creativity of its staff. In the first eight months of this year, Sunny kept a strong growth momentum in sales and profits.
