Ningbo made a new high in export in May

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Category: Ningbo Business

Published: Monday, 25 June 2012 09:36

After the slump in the first four months this year, the foreign trade of Ningbo boomed in May. According to a related department, both import and export made new highs for this year. The total of import and export reaches 8.85 billion US dollars, increased by 6.1%.

In the first 5 months this year, The total of import and export reaches 39.14 billion US dollars, up by 1.3% over the same period of the previous year. Of the total, the import is worth 14.8 billion US dollars, dropped by 3.7% over the same period of last year. The export reaches 24.34 billion, increased by 4.6%. The favorable balance amounts to 9.54 billion US dollars. For foreign trade, Ningbo ranks the 3rd of the 15 quasi-provincial cities of the country, only next to Shenzhen and Guangzhou.

A highlight in the foreign trade in Ningbo is that the enterprises of the city are quickening their steps of "going global".

In May, Ningbo approved 17 offshore enterprises and institutions. The confirmed investment by Chinese enterprises amounts to 132 million US dollars, increased by 22.9%. The actual investment by Chinese enterprises amounts to 50 million US dollars. Those enterprises and institutions are in 11 countries and regions. The output of overseas projects and labor services amounts 99 million US dollars, increased by 37.5%.

By the end of May, Ningbo established 1,524 overseas enterprises and institutions. The confirmed investment by Chinese enterprises amounts to 3.3 billion US dollars, and the actual investment by Chinese enterprises amounts to 1.631 billion US dollars. Those enterprises and institutions are in 97 countries and regions. The output of overseas projects and labor services amounts 574 million US dollars, increased by 12.2%. 79 people are sent working abroad, and 1576 people work abroad at the end of the term.