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Ningbo's actual utilization of foreign capital higher than provincial average

It is learned from Ningbo Municipal Bureau of Commerce that according to the latest approved data of the Ministry of Commerce, 442 foreign-funded enterprises were newly established in Ningbo from January to September this year, an increase of 97 over the same period last year, equivalent to an average increase of 1.6 new foreign-funded enterprises per day. The actually utilized foreign capital was US$2.89 billion, with a year-on-year increase of 34.8%, which was 9.6 percentage points higher than the national average and and 13.8 percentage points higher than the provincial average.
A close look into the report of the foreign investment attraction in Ningbo in the first three quarters reveals both the increase in amount and the improvement n quality of foreign investment, especially the steady increase of the investment from the world Fortune 500 enterprises. Among others, such world Fortune 500 enterprises as Lyondell Bassel (from Holland) and Costco (from US) have set up five new projects in Ningbo, with a total investment of US$1.44 billion. Up to now, the city has introduced 69 overseas Fortune 500 enterprises, which have invested in 152 projects (branches) in Ningbo, with a total investment of US$22.91 billion.
The services industry is an important support for the growth of foreign investment. In the first three quarters, the actual foreign investment in Ningbo's services industry was US$1.88 billion, a year-on-year increase of 65.7%, accounting for 64.9% of the total in the city. The actual utilization of foreign capital in the high-tech services industry, such as information technology services, scientific and technological achievements transformation services, and R&D and equipment services, was US$870 million, a year-on-year increase of 444.3%, accounting for 46.4% of the total actual utilization of foreign capital in the services industry. The accelerated integration of foreign capital and local innovative elements has become an indispensable driving force to enhance the city's competitiveness.


In the meantime, the effect of attracting large and strong investment is obvious. From January to September this year, there were 34 large projects with the actual utilization of foreign capital of more than US$20 million, an increase of nine over the same period last year, with a total fund in place of US$2.26 billion, a year-on-year increase of 71.2%, accounting for 78.2% of the total, an increase of 16.8 percentage points over the same period last year. There were 17 new large projects with a total investment of over US$100 million, an increase of eight enterprises over the same period last year, and the contracted foreign capital was US$2.21 billion, a year-on-year increase of 95.6%

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