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Ningbo "Acceleration" in Attracting Investment

"Obviously, Ningbo's foreign investment attraction has accelerated on the basis of the general ‘exceeding expectations’ across the country." With the latest data approved by the Ministry of Commerce, the relevant person in charge of the Municipal Bureau of Commerce said excitedly. Yesterday, the Ministry of Commerce held an online press conference. In the first ten months of this year, the effectiveness of my country's absorption of foreign investment exceeded expectations. According to the statistics of the Ministry of Commerce, in the same period, Ningbo actually utilized US$3.08 billion of foreign capital, a year-on-year increase of 34%, which was 10.6 and 16.3 percentage points higher than the national and provincial levels respectively.

As a national open-up "excellent student", Ningbo is steadily increasing the scale and quality of foreign investment, contributing Ningbo's strength to the overall situation of opening up. In the first ten months, the contractual foreign capital of foreign-funded enterprises in the city increased by 2.89 billion U.S. dollars, 3.1 times that of the same period last year. Among them, the contractual foreign investment of Ningbo Zhongfang Group Co., Ltd. increased from US$304 million to US$608 million, the contractual foreign investment of Zhejiang Jikrypton Intelligent Technology Co., Ltd. increased from US$50 million to US$310 million, and the contractual foreign investment of Ningbo Junlian Zhixing Technology Co., Ltd. 28.98 million U.S. dollars increased to 140 million U.S. dollars.

Looking closely at the latest "battle report" of Ningbo Foreign Investment, the "high-tech content" has increased significantly. Since the beginning of this year, the actual foreign investment in the service industry of our city has continued to expand into the high-tech field. The city’s service industry actually utilized US$2.05 billion of foreign capital, a year-on-year increase of 66.6%, accounting for 66.5% of the city’s total, an increase of 13% over the same period last year. The actual foreign investment in the high-tech industry (service industry) was US$1.04 billion, a year-on-year increase of 415.8%, accounting for 50.7% of the total actual foreign investment in the service industry. Among them, the actual foreign investment in the R&D and design service industry was US$640 million, which was 13.9 times that of the same period last year and accounted for 61.5% of the total actual foreign investment in the high-tech industry (service industry).

At the same time, the supporting and leading role of large projects has been further strengthened. From January to October this year, 55 new large-scale projects with a total investment of 30 million U.S. dollars were established in the city, an increase of 24 over the same period last year. The contractual foreign investment was 3.79 billion U.S. dollars, an increase of 102.7% year-on-year. There are 20 new large projects with a total investment of over 100 million U.S. dollars, an increase of 9 over the same period last year, which is equivalent to two new large projects over 100 million U.S. dollars every month. There were 58 projects with funds exceeding 10 million U.S. dollars, an increase of 6 over the same period last year, with a total amount of 2.72 billion U.S. dollars, accounting for 88.3%

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