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Foreign capital for actual use in Ningbo increases

It is learned from Ningbo Bureau of  Commerce that in the first half of this year, the actual use volume of  foreign capital in Ningbo stood at US$1.524 billion, up by 1.8% over the same  period of last year, 5.8 percentage points higher than the national growth. The  actual use volume accounted for 63.5% of the annual objective, much higher  than the half-year goal.

Since the world’s largest commercial  vehicle manufacturer established its branch at the Hangzhou Bay New Zone with  an investment of US$2.21 billion in January this year, a globally well-known  health care company and a global retail chain giant have also invested in  Ningbo. By the end of June, 67 foreign Fortune 500

companies had carried out  147 projects in Ningbo.

Statistics show that in the first half of  the year, 216 foreign-funded enterprises were newly established, with a total  investment of US$6.64 billion yuan, up by 55.5% over the same period of last  year. In addition, the re-investment by the profit of the existing  foreign-funded enterprises has hit a set a new record. The actual use of the  re-investment by the profit stood at US$358 million, up by 334.3% over the  same period of last year, accounting for 24% of the total, with an  18.5-percentage point growth over the same period of 2019. The leading one went  to the re-investment of US$150 million by the Shenzhou Group.

The main sources of investment remained  stable. For example, the investments from the United States and Singapore  grew faster than others. In the first half of the year, the actual use volume  of the foreign capital of the top 10 investing countries and regions stood at  US$1.503 billion, accounting for 98.6% of the city’s total, an increase of  1.6 percentage points over the same period in 2019.

It is worth noting that an increasing  number of large projects were introduced. In the first half of the year, 13  major projects with the actual use of foreign capital of US$30 million were  introduced, with the total actual use volume of US$1.006 billion, up by 33.1%  over the same period of 2019. The projects are mainly in such manufacturing  fields as automobile manufacturing and chemical raw materials manufacturing.

“In the first half of the year, against  the severe global investment situation, Ningbo stabilized the main body and  the general scale of foreign investment. And with the acceleration of foreign  investment attraction, the foreign investment has made a new contribution to  the stabilization and recovery of the city’s economy and the realization of  high-quality development.” said an official from Ningbo Bureau of Commerce

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