It's Happening....
Hangzhou Bay New Area saw strong economic growth
- Details
- Category: Ningbo District
- Published: Tuesday, 26 November 2013 09:43
Ningbo's Hangzhou Bay New Zone achieved 38.1 percent growth in its general budget revenue in the first three quarters and has completed its annual target two months ahead of the schedule, said Hangzhou Bay New Area Administrative Committee on Wednesday. Currently, Hangzhou Bay New Zone is leading the other 13 industrial parks of Zhejiang Province in terms of economic growth based on several key economic indicators.
Statistics show that Hangzhou Bay New Zone achieved a 26.15 percent GDP growth in the first three quarters of 2013. Its gross value of industrial output totaled 64 billion yuan ($10.5 billion), a year-on-year increase of 21.64 percent. Its total fixed asset investment hit 18.667 billion yuan ($3.06 billion), a year-on-year increase of 48.61 percent. "The economic boom of Hangzhou Bay New Area is driven by its increasing large projects and the restructuring and upgrading of the existed companies," said the director of Hangzhou Bay New Area Administrative Committee.
The thriving development of Hangzhou Bay New Area has drawn an increasing number of high-quality projects to settle in the new area. From this January to this September, 36 projects of various types settled here, bringing a total investment of 53.143 billion yuan ($8.72billion). A total of 62 industrial projects contributed to an investment of over 10 million yuan ($1.64 billion).
Take the Ningbo Company of Shanghai Volkswagen as an example. The wild tidal land 22 months ago has been turned into the benchmark factory of Shanghai Volkswagen. The factory started operation on January 7, 2012 and produced its first car on October 24. The high efficiency created a record high among the Volkswagen plants in the world. Next to the Volkswagen factory is its auto parts supplier park, which was set up at the same time as the factory. The suppliers park has gathered 37 auto parts suppliers like the U.S. Visteon, U.S. Johnson, and CITIC Dicastal, with a total investment of over 7.3 billion yuan. The first 10 projects have started the installation of their equipments and put into operation. During the first three quarters, the auto companies in Hangzhou Bay New Area achieved an output value 9.397 billion yuan, a year-on-year increase of 75.25 percent, driving the industrial growth in the New Area.
The existed companies also accelerated its pace of upgrading transformation and upgrading. During the first three quarters, Geely Automobile achieved an output value of 6.22 billion yuan, up 121.34 percent year on year. Its annual sales are expected to exceed 10 billion yuan. Meanwhile, Geely Automobile established its largest power train production base and a Volvo design and test center in the New Area. Besides, the five major emerging industries including vehicles, new materials, new energy, major equipments, intelligent home appliances and electronic information industry created an output value of 27.387 billion yuan($4.49 billion), a year-on-year increase of 37.82 percent, taking up 48.46 percent of the gross value of industrial output.
