Foreign investment on rise in Ningbo
- Details
- Category: Ningbo News
- Published: Monday, 10 December 2012 10:18
Despite the flagging global economy, Ningbo is still favored by foreign investors. According to the updated statistics of Ningbo Municipal Administration of Industry and Commerce, in the past four years, the annual foreign investment on average is over 1.2 billion US dollars. In the first 10 months this year, the investment amounts to 1.5 billion US dollars.
By the end of October, the city's foreign-funded enterprises amount to 6303, with the investment totaling 57.3 billion US dollars, and the registered capital 31.8 bmillion US dollars, including the foreign subscribed capital totaling of 23.3 US dollars. All the figures increase by 25% year on year. Statistics from the industrial and commercial administrative department show that since 2009, the foreign investment in Ningbo has maintained high, with an increase of over 200 enterprises every years.
"The first wave of investment occurred in 2009, and in the years 266 enterprises increased their investment. The increased investment amounted to 1.233 billion US dollars, more than the total registered capital of the 274 enterprises founded in the year," said an authority of Ningbo Municipal Administration of Industry and Commerce. In the next two years, increase of investment became a highlight in Ningbo, especially in 2011. In 2011, the increased investment by 268 enterprises amounted to 2.231 billion US dollars, 80.9% over 2009. In the year, the per-enterprise increase surpassed 8.32 million US dollars and 39 enterprises each had its increase surpass 10 million US dollars. This shows that foreign enterprises are satisfied with the investment environment of Ningbo and confident with their development." "
The increase of investment is a promotion of the transformation and development of enterprises. Ningbo Run Zhou Auto Parts Company is a joint venture. Since its establishment in 2003, it has increased its investment for three times. In June this year, it increased its registered capital from 10 million yuan to 56.50 million yuan. The increased investment is for new production lines. "We're building factory buildings. We will introduce advanced equipment and modernize our management," said Chen Caihong, Vice General Manager of the company.
