Ningbo invests in over 100 countries and regions

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Category: Ningbo News

Published: Monday, 10 December 2012 10:20

The other day, Ningbo Seawall Technology Group spent 3 million US dollars purchasing a technological service company in Seychelles, a country in east Africa. "With this foreign company as a springboard, we can expand our business to European countries, USA and Southeast Asian countries providing the local users with our outsourcing services," said Lu Shidong, General Manager of the company.

Updated statistics from Ningbo Foreign Economy and Trade Bureau shows, by the end of October, overseas enterprises and institutions Ningbo established in foreign countries and regions amount to 1,621 and the confirmed investment by Chinese enterprises amounts to 3.877 billion US dollars. Of the total, 193 such enterprises and institutions were established in the first 10 months this year and the confirmed investment by Chinese enterprises amounts to 1.187 billion US dollars, up by 15.6% year on year.

This year, Enterprises in Ningbo is quickening up their steps of "going global", especially the emerging markets. Thanks to the ECFAE, Yuyao Xuneng Jiangxin Electric Company invested 300,000 US dollars to open its sales centers in Belorussia. Some enterprises of Ningbo even fix their eye on Fijian and Pakistan. At present, except the Antarctic Continent, enterprises of Ningbo have had their investment in all the other continents.

In the first 10 months this year, Ningbo set up 139 trade companies and institutions. Such companies and institutions add up to 1,500, ranking the first in all cities of the country.