Revitalizing the City through Opening up: 10 Years
- Details
- Category: Governmental News
- Published: Thursday, 28 February 2013 06:55
Since the initiation of the opening up drive of the country, Ningbo has seized the opportunity and set the development strategy of revitalizing the city through opening up, which has resulted in a rapid development of the economy. Especially since the convening of the 16th National Congress of the CPC, Ningbo's open economy has developed by leaps and bounds, in both scale and quality. It has become a strong impetus for the sustained, rapid and healthy development of Ningbo's economy and social undertakings.
During the past decade from 2002 to 2011, Ningbo has undergone tremendous changes, with the foreign trade volume decupled, increasing from a little over 10 billion U.S. dollars to nearly 100 billion U.S. dollars. The way of introducing foreign investment has also turned from wantonly attracting foreign investment to carefully selecting investors. High-tech projects and a number of Fortune 500 enterprises have settled in Ningbo, bringing in more than 22 billion US dollars of foreign investment, equaling 4.4 times to that of the previous 25 years. The annual Chinese investment overseas has also centuplicated, soaring from 120 million US dollars to 1.1 billion US dollars. Ningbo's industry of service outsourcing which started from scratch also leads the country, and it is striving to become a model city in the field. Moreover, Ningbo has strengthened its efforts to build its opening-up zones, and has become one of the few cities equipped with all types of special customs surveillance zones.
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