Eight Ningbo customs officers investigated

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Category: Governmental News

Published: Friday, 19 April 2013 08:20

Eight customs inspectors in Ningbo city, Zhejiang province, who allegedly accepted bribes to help a company evade tariffs, have been investigated by the local prosecutions department.

Zhang Chunfang, deputy director of the Ningo customs working office, said on Wednesday that in early April several customs inspectors from the Beilun district of Ningbo were taken away by local prosecutors for investigation.

They allegedly accepted bribes and offered help to a trading company for tax evasion, but the case is still under investigation, according to Ningbo customs authorities.

According to reports by 21st Century Business Herald, the Ningbo customs disciplinary inspection department last year found that five customs inspectors in Beilun district had large amounts of deposits in their personal accounts, which were not in line with their income.

The department found the inspectors used their positions to offer help to local enterprises to facilitate clearance. After interrogation, they were fired, the report said.

Ningbo Improves Small Loans Policy

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Category: Governmental News

Published: Tuesday, 16 April 2013 10:18

"With the subsidized loans of 500,000 Yuan offered by the government, my fruit production area can be expanded from 500 acres to 800 acres.” Yao Chunmei, a college student entrepreneur, successfully applied for the small secured loans 50 million on April 8. 
In order to encourage start-up and promote entrepreneurship and job creation, a notice was jointly issued by the Ningbo central sub-branch of the People's Bank, the Ningbo Finance Bureau and the Ningbo Human Resources and Social Security Bureau the other day, which further improved relevant provisions for the appliers, loan limits and application procedures.
Specifically, except for urban registered unemployed residents, demobilized soldiers, qualified rural labor force, college students and fresh graduates, founders of entrepreneurial entities with Ningbo’s household registration and college graduates who graduated from colleges with five years are included as qualified appliers. After returning the principal and interests, the government will subsidize the whole interests for them. If they apply the loans for one year, they can renew their loans for another two times.

Read more: Ningbo Improves Small Loans Policy

Ningbo foreign exchange transaction ranks No.3 in China

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Category: Governmental News

Published: Tuesday, 16 April 2013 10:35

According to the statistics from Ningbo branch of foreign exchange transaction center issued on April 7th, the aggregated amount of foreign exchange transaction in Ningbo reaches 347.8 billion dollar, up 35.9 percent over the year before. The transaction volume ranked No. 3 in the country, right after Guangzhou and Shenzhen. The aggregation amount included more than 160 billion dollars of cross border transaction and people’ abroad annual net income reaches more than 30,000 yuan (the number of permanent residents is 6 billion).
   With the increasing demand for foreign exchange transaction from enterprises and individuals, more and more foreign exchange and financial institutions are settled in Ningbo in recent years. By the end of 2012, there are 44 designated foreign exchange banks. The outlets and institutions for exchange settlements and sales exceeded 870 with more than 20 kinds of foreign exchange products, which fully covered exchange settlements and sales, options, guarantees, financing and so on.

Foreign exchange transactions ranked third nationwide

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Category: Governmental News

Published: Tuesday, 16 April 2013 10:15

Data from the Foreign Exchange Center in Ningbo showed that the foreign exchange transactions of Ningbo reached 347.8 billion US dollars, up by 35.9 percent against the previous year, right after that of Guangzhou and Shenzhen. Total cross-border capital receipts and payments was over 160 billion US dollars, which means that every citizen has a foreign net income of over 30 thousand yuan every year, estimated by a resident population of six million people.
　
Along with the increase of enterprises’ and individuals’ demands for foreign exchange transactions, the number of financial institutions for foreign exchange settled in Ningbo increased as well over the last a few years. Till the end of 2012, 44 banks had the business of foreign exchange. The agencies with the business of foreign exchange settlement and sales totaled at 870, involving over 20 kinds of foreign exchange products which include foreign exchange settlement and sales, option, letter of guarantee and fund raising and other businesses.