Ningbo to promote cooperation with CEEC countries
- Details
- Category: Governmental News
- Published: Wednesday, 30 March 2016 08:15
It is learned from Ningbo Commission of Commerce that the "administrative policy for Ningbo-CEEC cooperation subsidy" has been officially released recently, with the aim of encouraging bilateral trade and investment by importing CEEC products to the Chinese market via Ningbo, supporting Ningbo enterprises to start business in the CEEC countries, and accelerating the construction of the CEEC Industrial Zone.
According to a related person from the commission, from 2016 on, the foreign trade enterprises in Ningbo, which sign purchase or sales contracts at the China-CEEC Fair with an import volume of $20,000 and above, will obtain additional subsidy from the government with the presentation of the import declaration document. And to encourage the import of CEEC goods, the enterprises with an annual import volume of $100,000 and above from the CEEC countries can also obtain the subsidy. From those enterprises that establish industrial parks in the CEEC countries, or conduct outbound investment or project contracting, if they get the loans (one year or above) specialized for the project construction from banks home and aborad, they can entitled to an up to 50% discount subsidy of the total interest. From 2016 to 2018, the enterprises can get a subsidy of up to three million yuan if they set up the industrial parks, logistics parks, resource development parks and commodity centers in the CEEC countries.
As a springboard to the European market, the CEEC area has become a "new land" for Ningbo enterprises due to its advantageous geographical location and relatively low production cost. According to statistics from Ningbo Commission of Commerce, in 2015, Ningbo enterprises invested $10.44 million in the CEEC area, 28.5 times that of the previous year. Some solar-power equipment enterprises, such as Oriental Risen and Youlika, built the solar power stations in such CEEC countries as Bulgaria and Romania, achieving a total turnover of about $200 million.
It is reported that the 2nd China-CEEC Investment & Trade Fair will be held in Ningbo in June, 2016. According to a person in charge from the management committee of the fair, Ningbo will introduce more policies to encourage local enterprises to cooperate with CEEC enterprises and promote the steady development of the bilateral trade.
