Copyright 2022 - Ningbo Life / Ningbo Expat

Ningbo becoming the gathering place for foreign-invested enterprises

Word came from the annual conference of Ningbo Foreign-invested Enterprises Society held on October 8 that Ningbo has already become the gathering place for the high-quality foreign investment and foreign-invested enterprises.

Statistics show that every introduction of 100 million dollars of foreign investment means the country can get 100 million yuan as tax revenue and another 3427 job positions will be created. It also means a total export and import value of 145 million dollars and a profit of 157 million yuan.

According to Ningbo Foreign Trade and Economic Cooperation Bureau, in 2010, there were 5772 foreign-invested enterprises with a total investment of 44.21 billion dollars, including a registered capital of 25.56 billion dollars. The realized investment added up to 23.81 billion dollars. By the end of 2010, the total investment, registered capital and realized investment had all increased compared with the previous year, an increase of 4.2 billion dollars, 3.04 billion dollars and 2.53 billion dollars respectively. 3221 foreign-invested enterprises proved profitable, an increase of 182 over the previous year. The profitable enterprises made up 56% of all the enterprises tested, up 3% over the previous year.

As one of the first opening-up coastal cities since the introduction of reform and opening-up policy, Ningbo has been making efforts to attract foreign businesses and investments actively and efficiently in a proper way. The investments have been closely integrated with equipments, technology, management and talents on a certain scale. The consistent inflow of the foreign investment greatly compensated the shortage of fund for Ningbo's development. In the meanwhile,  by bringing in a large quantity of advanced production technology and administration experience, the foreign investment played a significant role in promoting the scientific and technological progress and industrial upgrading, in boosting tax revenue, employment and imports and exports, and in achieving the balanced development of different regions.

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