Ningbo to arrange 40 million yuan to support import
- Details
- Category: Governmental News
- Published: Tuesday, 29 January 2013 13:40
The other day, Ningbo Municipal Government released Opinions on Accelerating Import Trade, which specifies measures to promote import trade.
The Opinions will be put into effect from February. The Opinions suggests that by 2016 the independent import should be 40% of the total of independent import and export, that the import via Ningbo Customs should be 38% of the total of the import and export via Ningbo Customs and that Ningbo should make greater contribution to the balance of foreign trade of Zhejiang and China.
So far, Ningbo has 4,700 import companies. Statistics of Ningbo Customs show that in the first 11 months in 2012, the total import and export volume was $88.403 billion US dollars, and the import 32.113 billion.
In the three years from 2013, every year Ningbo will put in some 40 million yuan as special fund for the support of import trade, to encourage enterprises to enlarge import trade, to build professional import market, to encourage enterprises and to participate in import commodity fairs. The fund shall also be used to support credit insurance and promote supporting services for import trade.
According to the Opinions, Ningbo will have the special fund for import trade play its guiding role and by means of subsidies and government procurement the city will encourage monetary institutions to further improve the innovate credit services for import trade. The city will support policy banks to arrange funds to support import of advanced equipment and staple commodities in short supply.
The Opinions suggests that Ningbo should accelerate the building of the market channels home and abroad. The city should encourage qualified enterprises of Ningbo to establish business relationships with internal importers and international suppliers, so as to have fewer intermediate links and reduce trading cost. The city should support qualified enterprises to integrate import business links and build an integrated platform of purchasing, import, exhibition and direct sales. The city should encourage enterprises of Ningbo to be agent of foreign commodities and build platforms for independent sales.
The city shall promote the diversified import markets, optimize the structure of import, enlarge the table of technology and commodity from developed countries, and expand the import from emerging markets, developing countries and Hong Kong, Macao and Taiwan. The Opinions says that Ningbo should promote the import of new information technologies, and services of biological, high-end equipment manufacturing, new energy and new material industries.
