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Ningbo completes annual task of foreign capital introduction in seven months

According to Ningbo Municipal Bureau of Commerce, in the first seven months of this year, Ningbo actually utilized US$2.56 billion of foreign capital, exceeding that of last year, and completed the business introduction task assigned by the province five months in advance.

From January to July this year, the utilization of foreign capital in the city was stable and positive, with the actual utilization of foreign capital of US$2.56 billion, a year-on-year increase of 54%, 23.1 and 16.8 percentage points higher than that of the whole country and the whole province respectively. Its actually utilized foreign capital was 2.5% of that of the whole country, an increase of 0.3 percentage points year-on-year. So far this year, 373 foreign-funded enterprises have been newly established, an increase of 128 over the same period of last year. The total investment was US$8.39 billion, a year-on-year increase of 31.1%.

According to the bureau of commerce, up to now, 68 overseas World Fortune 500 enterprises have invested in Ningbo, with a total investment amount of US$22.3 billion.

In June this year, Costco, the world’s second largest retailer, signed a project investment agreement with Yinzhou District Government, agreeing that the Ningbo member store of Costco would officially settled down in Xiaying Town of Yinzhou District. In July, the store officially completed its industrial and commercial registration, with a total investment of US$270 million and a contractual foreign capital of US$81 million.

Statistics show that in the first seven months, the city has introduced three overseas World Fortune 500 enterprises, including Lyondell Basell of the Netherlands, Geely Group of Hong Kong and Costco of the US, ranking No.1 in the province in terms of the number of introduced enterprises. Over these seven months, the number of large projects introduced and the amount of project funds in place have increased significantly. There are 25 new large projects (including those with capital increases)  with a total investment of more than US$100 million, with a total investment of US$6.09 billion and a contractual foreign investment of US$3.28 billion, an increase of 2.5 times, 1.3 times and 3.6 times respectively over the same period of last year

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