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Category: Ningbo Business
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Published: Wednesday, 26 December 2012 20:19
News from Ningbo Municipal Bureau of Foreign Trade & Economic Cooperation indicated that the amount of new foreign-funded projects was 391 from January to November, with a total investment of 9.156 billion US dollars which increased 0.8 percent against the same period of last year. Among which 4.945 billion US dollars was contracted investment and the investment in actual use was 2.603 billion, increasing 6.4 percent and 0.01 percent respectively.
It is learned that, among the projects (having a total investment of 7.643 billion US dollars) introduced in November, 203 projects has a total capital of over 10 million US dollars. And projects of over 30 million US dollars were 66, whose total investment amounted to 5.47 billion US dollars.
Tertiary industry becomes the new engine of Ningbo in attracting foreign investment. From Jan. to Nov, the contract investment from tertiary industry stood at 1.907 billion US dollars, increased 12.2 percent year on year and accounting for 38.6 percent of the total investment. The foreign investment in actual use was 1.412 billion US dollars, accounting for 54.2 percent of the total. Sectors for investment became more comprehensive, ranging from such traditional sectors as communications and transportation, warehousing, renting and commercial services to emerging industries like information transmission, computer service as well as software.
It is introduced that 98.9 percent of Ningbo’s annual contact investment goal was fulfilled within the past 11 months, together with the fulfillment of 93 percent of the investment in actual use. “Measures of accelerating the exploration and development of city functional zones and optimizing the spatial plan for the joint development of the urban and rural areas have significantly increased investment opportunities in traditional business and trade sectors”, said a relative person working in Ningbo Municipal Bureau of Foreign Trade & Economic Cooperation
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Category: Ningbo Business
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Published: Wednesday, 26 December 2012 20:19
Construction of the headquarters of Sedin Ningbo Engineering Co., Ltd in Ningbo National Hi-tech Industrial Development Zone got started on Dec. 16. Depuenty Mayor Chen Zhongchao was present at the opening ceremony.
Sedin Ningbo Engineering Co., Ltd is wholly owned by Sedin Engineering Co. Ltd and was credited as one of the first group of national hi-tech enterprises in 2008. In the decade since its establishment, the company has taken nearly 500 large-scale construction projects, including more than ten fully contracted projects. Moreover, it has secured nine national awards within its profession.
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Category: Governmental News
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Published: Wednesday, 26 December 2012 20:18
On the annual meeting of Eastern Zhejiang Economic Cooperation Zone on 13th and 14th, representatives from 13 fields of finance, tourism, commerce and business, science and technology, ocean fishery and so on gathered in Ningbo, discussing how to promote Ningbo’s same city clearing system and share tourism resources in the Zone.
The Zone, one of the earliest regional cooperation zones in China, is a voluntarily-established economic zone, covering the five adjoining cities of Ningbo, Shaoxing, Zhoushan, Taizhou and Jiaxing. As economic cooperation increases, the capital flow among the five cities rises rapidly.
From 2009 to 2011, Ningbo has witnessed an obvious increase of its annual capital flow with the other four cities, which takes up more than 70% of its fund flow with all the other cities (not including Hangzhou) in Zhejiang Province. Fund flow in the Zone mainly depends on the China National Advanced Payment System, which includes the High Value Payment System (HVPS) and the Bulk Electronic Payments System (BEPS). The HVPS is the most convenient method which can process business within two hours on workdays, but it requires a rather high handling charge from 5 yuan to 200 yuan and if the business amount is under 50,000 yuan, there will be an additional 30% charge. The BEPS takes a longer time of about two or three days to process business and also requires high charges, especially for the business of cheque and foreign currency. The increasingly more fund flow among the five cities is challenged by the high charges and low processing efficiency.
“The rise of fund flow in the Zone requires urgent financial technological innovation to build a regional electronic payment system shared by the five cities,” according to workers from the Ningbo Branch of People’s Bank of China. Ningbo takes the lead in building the same city clearing system, which can share the resources among banks and lower the charges. The promotion of the system in the Zone will surely benefit enterprises and citizens.