Copyright 2022 - Ningbo Life / Ningbo Expat

The Ningbo Municipal Council for the Promotion of International Trade and the Iranian Port Abbas Chamber of Commerce Signed a Memorandum of Cooperation

Recently, the Municipal Council for the Promotion of International Trade and the Iranian Port Abbas Chamber of Commerce signed a memorandum of understanding on economic and trade cooperation through online means to promote cooperation between Ningbo and Iran enterprises and enhance the level of facilitation of Ningbo-Iran trade and investment.

Ningbo and Iran have frequent economic and trade exchanges. According to statistics, from January to August this year, Ningbo’s import and export volume with Iran was US$1.108 billion, a year-on-year increase of nearly doubled. Imported commodities mainly include primary shapes of plastics, crude oil, steel billets and rough forgings, and export commodities mainly include textile yarns. , Fabrics and products, motors, generators and auto parts, etc.

Iran is also actively investing in Ningbo. As of the end of August this year, Iran had approved 56 projects in Ningbo with a contractual foreign investment of US$12.7 million, an increase of 10% year-on-year. The main industries for investment include paint manufacturing, international trade and business consulting.

Read more: The Ningbo Municipal Council for the...

Ningbo's Loan Balance in the First Three Quarters Increased by 13.4% Year-on-Year

Since the beginning of this year, our city's banking financial institutions have fully implemented a prudent monetary and credit policy and increased the supply of credit funds for the real economy. According to statistics from the Ningbo Central Sub-branch of the People's Bank of China, in the first three quarters, the city's loan balance in domestic and foreign currencies was 284.932 billion yuan, a year-on-year increase of 13.4% and an increase of 304.15 billion yuan from the beginning of the year.

Based on the reality of the jurisdiction, the city’s pedestrian system unifies its thoughts and actions to serve the real economy, serve the reform and opening up, and serve Ningbo as an “important window” model student and the establishment of a common prosperous pioneer city. It is flexible and precise in accordance with the monetary policy. Reasonable and moderate requirements, guide small and medium-sized corporate institutions to rationally arrange the total amount, structure and pace of credit loans, increase support for private, small and micro, "three rural" and other fields; guide financial institutions to make reasonable profit and guide small and micro enterprises to raise funds Cost is stable at a low level; actively promote and apply debt financing tools such as carbon neutral bonds, innovation and entrepreneurship bonds, and private enterprise bonds to help companies raise funds.

Read more: Ningbo's Loan Balance in the First...

Ningbo selected as one of the first batch of quarter-hour convenience living circle pilots in China

Yesterday from the Municipal Bureau of Commerce was informed that the Ministry of Commerce in conjunction with relevant departments recently issued a document to determine the first batch of 30 quarter-hour convenience living circle pilot areas in the country, Ningbo was listed among them, the only one in Zhejiang Province.

It is understood that the quarter-hour convenience living circle, is to serve the community residents, with a service radius of about 15 minutes' walk, to meet the residents' basic consumption of daily life and quality consumption as the goal, formed by a multi-format gathering of community shopping areas. The selection as a pilot is an affirmation of the fact that Ningbo has started the construction of a 15-minute business and convenience service circle since 2019 and is actively exploring ways to enhance business and convenience services.

According to the current situation, scale and positioning of old and new communities, the city, in accordance with the requirements of the Ministry of Commerce and other departments, has divided the convenience service circle into neighborhood communities, neighborhood centers and neighborhood blocks to promote three modes of classification, making it clear that the convenience service circle in old urban areas is based on building neighborhood communities and increasing the concentration of commercial outlets, while the new urban living circle is based on building neighborhood centers and neighborhood blocks to achieve street-level community outlet distribution and actively meet the six-in-one functional needs of "shopping, services, leisure, fitness, culture and social life".

At present, the city has built 23 relatively sound 15-minute commercial and convenient service zones.

In the next stage, the city will combine the renovation of old districts and the construction of future communities, highlight the hot spots of "convenience, benefit and welfare", actively implement pilot projects, guide the development of new businesses such as 24-hour branded chain convenience stores and "micro markets", improve the convenience, standardization, wisdom and quality of community commercial services, and strive to build more than 50 15-minute convenience service circles in line with the actual situation in Ningbo by 2025

Ningbo’s import and export increases by 22.5% in the first three quarters

“Our company’s products are mainly exported to large supermarkets in Europe and the United States. The total export volume in the first three quarters reaches RMB40 million, increasing by more than 20% year-on-year. Although this year has been affected by factors such as the price increase of aluminum and other raw materials and the exchange rate, the production costs and pressures have increased, but I believe that the development in the fourth quarter of this year will continue to improve.” Manager Ye, the head of customs affairs of Ningbo Shama Home Furnishing Import & Export Co., Ltd., remained optimistic about the foreign trade situation.

The prosperity of Shama Home Furnishing is a microcosm of Ningbo foreign trade enterprises. According to statistics from Ningbo Customs, in the first three quarters, Ningbo's import and export totaled RMB872.98 billion, up by 22.5% compared with the same period last year. Among them, exports increased by 20% to RMB557.42 billion, and imports reached RMB315.56 billion, a year-on-year increase of 27.2%. "The data show that Ningbo’s foreign trade has strong resilience. It has achieved rapid growth, and the pace of high-quality development is accelerating, one step closer to the trillion-dollar goal." said the relevant person in charge of Ningbo Customs.

Read more: Ningbo’s import and export increases...

Ningbo was selected as one of the first batch of quarter-hour convenience living circle pilots in China

Yesterday from the Municipal Bureau of Commerce was informed that the Ministry of Commerce in conjunction with relevant departments recently issued a document to determine the first batch of 30 quarter-hour convenience living circle pilot areas in the country, Ningbo was listed among them, the only one in Zhejiang Province.

 It is understood that the quarter-hour convenience living circle, is to serve the community residents, with a service radius of about 15 minutes' walk, to meet the residents' basic consumption of daily life and quality consumption as the goal, formed by a multi-format gathering of community shopping areas. The selection as a pilot is an affirmation of the fact that Ningbo has started the construction of a 15-minute business and convenience service circle since 2019 and is actively exploring ways to enhance business and convenience services.

Read more: Ningbo was selected as one of the...

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