Copyright 2024 - Ningbo Life / Ningbo Expat

Jiangbei District develops by attracting investments

With the quickening of its pace in promoting urban service function and creating livable district and with its unique geographical location and profound cultural foundation, Jiangbei District is attracting more and more investing projects. In the first three quarters this year, Jiangbei District attracted overseas contractual investment of $238 million, an increase of 57.3% over the same period last year, and it actually used overseas investment of $186 million, an increase of 148.82%. The realized domestic registered capital reached 2.4 billion yuan, which makes it possible for the district to reach its year goal of introducing 10 billion yuan as investment.

Since the beginning of this year, Jiangbei District has been engaged in the planning and developing of the "northern bank". Some hot spots for investment, such as the core waterfront area, the new triple-river estuary and the New Town of Cicheng County, have attracted some well-known developers home and abroad (including CapitLand of Singapore, Wharf Holdings of Hong Kong, Wanke Group and Wanda Group) to participate in the local urban construction and economic development by investing in the district. In the first three quarters this year, 6 new foreign-invested projects were approved with a contractual foreign investment of $238 million, which means that the district has over-fulfilled its year goal.

On US local time July 20, the Zhejiang-New Jersey Investment and Trade Fair was held in Patterson University in New Jersey. At the fair, Jiangbei District Government signed a contract with the Triple Five Group, who would invest $800 million to build the biggest leisure and entertainment shopping mall of Yangtze River Delta region. This project will play a significant role in promoting the development of the New Town of Cicheng County and the northern bank of Yaojiang River, and accelerating the pace of northward extension of the urban area of Jiangbei District.

Wantou leisure business zone plans to invest 20 billion yuan to build the landmark for the "new triple-river estuary". So far, the Red Wine Farm project and hot spring holiday project of Haichang Group and Mixc City project of China Resources Group have reached the stage of official negotiation. Some other investors, like China Ocean Shipping Group, Tomson Group, Sunland Real Estate Group and Red Star Macalline, have investment intentions.

The development and construction of the ancient town of Cicheng County also appeal to investors. In the following few years, with the help of the foreign investment, the new town will become a  model of small towns in China with the main function of quality suburb residence and the comprehensive additional functions of cultural industry, business office, leisure and holiday and entertainment and tourism.

In addition, the Ningbo portal area of Hangzhou Bay Bridge will be built as a new urban area of industry, residence and trade. Besides, the main hotel of the Sunhu Lake tourist resort has began construction

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