It's Happening....
Foreign capital inflow totaled US $1.8 bln
- Details
- Category: Governmental News
- Published: Tuesday, 23 July 2013 08:28
IKEA, the biggest general merchandise store for household goods in the world, opened its store in Ningbo a few days ago, the first outlet of the company in Zhejiang and the 14th in China. The latest statistic from Ningbo Foreign Trade & Economic Cooperation Bureau showed that a total of 39 world’s Top 500 enterprises have set 95 companies in Ningbo, whose investment stood at 9.2 billion US dollars.
The departments on introducing foreign investment has targeted at world’s Top 500 companies and leading enterprises of all industries since the beginning of 2013. Just at the beginning of July, the environmentally friendly iron oxide red paint factory, invested by LANXESS, one of the world’s Top 500 enterprises, began to build. Not long before this, MGM Resorts Group agreed to build a Diaoyutai • MGM “China Holiday” project in Hangzhou Bay New Area.
Strategic emerging industries represented by auto companies and modern service industries continue to be the major areas for investment from world’s Top 500 businesses. Ningbo Hangzhou Bay New Area Beidou Electric Motor Co. Ltd, a joint venture invested by Bosch, the second largest automobile technology supplier in the world, attracted 135.3 million US dollars of contracted foreign investment in less than one year after its establishment. Tesco invested 70.3 US dollars to build a supermarket in Yinzhou District of Ningbo. As a matter of fact, the newly settlements of projects invested by world’s Top 500 companies from Jan. to June, 2013, stood at six projects, adding 402 million US dollars to the total investment amount, and the contracted foreign investment totaled 199 million US dollars.
Research showed that investment from such countries as Japan and South Korea regained its strength. From Jan. to June, the contracted funds from Japan were 82.47 million US dollars, and 49.92 million US dollars has already been in place, an increase of 11.27 times and 1.62 times respectively. And the contracted funds from South Korea were 51.05 million US dollars, and 50.16 million has already been in place, increasing by 4.67 times and 2.3 times respectively.
Statistics showed that 205 foreign-invested projects have been approved from Jan. to June. The contracted funds amounted to 2.906 billion US dollars and the amount in actual use stood at 1.798 billion US dollars, an increase of 7.9 percent and 17.9 percent respectively.
