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Ningbo to build expansion area for Zhejiang Pilot Free Trade Zone

The plan for the expansion area ofChina(Zhejiang) Pilot Free Trade Zone was released on September 21. According to the plan, the 46-kilometer expansion area in Ningbo will undertake the strategic functional orientation of “one hub, three centers and one demonstration zone”, namely, the international shipping hub, the three centers with international influence (the distribution center for oil and gas resources, the innovative center for international supply chain, and the global sci-tech innovation center for new materials), and the demonstration zone for the high-quality development of intelligent manufacturing.

Ningbo-ZhoushanPortis an important hub gateway for china's opening up. Reportedly, Ningbo will give full play to the “hardcore” role of the port, strengthen the linkage of the sea port, the airport, the inland port and the information port, improve the port’s intelligent infrastructure construction, and make efforts to develop such high-end shipping services as shipping finance and insurance, international marine affairs, and shipping trade and transactions. It will also build the high energy-level shipping service platforms, and construct

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The Integrated Application of Electronic Business License and Electronic Seal in Ningbo

Since August, the digitalized “1+0” mode for opening enterprise in Ningbo has been officially launched. According to this mode, a newly opened enterprise can simultaneously obtain an electronic business license, electronic seal and tax UKey. This is another innovative measure taken by the city to further reduce the time for opening enterprises, to improve the convenience of setting up enterprises, and to stimulate the entrepreneurial and innovative vitality of market subject. Ningbo is the second city in China to implement the integrated application of electronic business license and electronic seal after Shanghai.

What is “1+0” mode? According to the director of the Administrative Examination and Approval Division of the Municipal Market Supervision Bureau, “1” refers to the integration of seal making and invoice application into the business establishment process, achieving “1 link” completion; “0” refers to zero cost, i.e., the newly opened enterprise will obtain free electronic business license, electronic seal, tax UKey at the same time. The director said, “We have integrated all the online links and business systems of enterprise establishment to achieve ‘one-time login, one-network operation’. We will extend the enterprise establishment window to various bank outlets and provide one-stop service offline through deepening the cooperation between government and banks.”

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Ningbo ranks 8th in 2019 China's top 100 foreign trade cities

On July 28, China Customs magazine, sponsored by the General Administration of Customs, released the list of 019 Top 100 Chinese Foreign Trade Cities. In this list, Ningbo ranks eighth in the country, the same as in 2018. Along with Ningbo on the list of the country’s top ten cities, there are also Shenzhen, Shanghai, Guangzhou, Dongguan, Xiamen, Suzhou, Zhuhai, Chongqing and Qingdao, all of which are directly under the central government or open coastal cities.

It is reported that the selection criteria of this list, including level competitiveness, structural competitiveness, efficiency competitiveness, development competitiveness and potential competitiveness of the five sub-categories, a total of 25 indicators, thereby calculating the comprehensive competitiveness of foreign trade of cities above prefecture and municipal levels nationwide score, with strong professionalism and authority. The fact that Ningbo ranked in the top ten for two consecutive years is sufficient to show the toughness of this port city in the field of open economy.

The 2020 Ningbo foreign trade still delivered a remarkable report card. According to Ningbo Customs statistics, from January to June, the total value of Ningbo’s foreign trade import and export was RMB 430.75 billion, narrowing the decline by 5.4

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More than 10.7 Billion Yuan of Tax Deductions and Exemptions in Ningbo for Energizing Enterprises

The data of the final settlement of the business income taxes in 2019 of Ningbo are released. It is indicated that there are 1060 high-tech enterprises in Ningbo enjoying the preferential policy of lowered 15% tax rate for income tax, which is 4.666 billion yuan of tax reduction; 5678 enterprises enjoy the preferential policy of 175% additional deduction for research and development expenses, and the tax reduction is 6.039 billion yuan for them. The two policies have reduced the burden of 6738 companies by more than 10.7 billion yuan. The number of enterprises as beneficiary has increased by 26.63% year-on-year, and the amount of tax deductions and exemptions has increased by 25.07% year-on-year.

“For we thought that the additional deductions of R&D expenses and preferential policies for high-tech enterprises were the ‘privilege’ of the manufacturing industry, we did not expect that the construction industry could also be covered by this policy!” Ningbo Municipal Engineering Construction Group Co., Ltd. is a newly recognized high-tech enterprise in 2019. For this unexpected tax cut, Chief Financial Officer Chen Bohe was overwhelmed with joy

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Hangzhou Bay New District tops city’s GDP growth rate in first half of year

From January to June, Hangzhou Bay achieved a year-on-year GDP growth of 3.4%, ranking first in the city. Its fixed asset investment increased by 15.1% year-on-year, ranking second. Also, its value added of service industry increased by 11.7% year-on-year, ranking first. It’s 52 industrial projects were introduced, with a total investment of 26.805 billion yuan, an increase of 101.75% year-on-year. This is the high score delivered by Hangzhou Bay New District in the first half of the year.

The Hangzhou Bay New District has taken the initiative to promote economic and social development in an integrated manner, fully implemented its tasks, and acted with extraordinary responsibility and strategies.

Precise policy focuses on saving and digging. By improving the service chain, opening up the industrial chain and enhancing the value chain, the output value of the automobile industry in the first half of the year has reached 46.21 billion yuan, with a drop of 15.3 percentage points compared with the first quarter. In the first half of the year, the output value of the auto industry in the new area reached 46.21 billion yuan, a significant reduction of 15.3 percentage points from the first quarter. The emphasis of digging out increment is to promote return. The first half of the new wholesale sales of 5 billion yuan, pulling GDP growth of 0.4 percentage points.

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