It's Happening....
Jiangbei District accelerating enterprise internationalization
- Details
- Category: Ningbo Business
- Published: Tuesday, 27 November 2012 10:00
Recently, Ningbo Dairy Group invested nearly 100 million yuan in buying and building the Corinella Ranch in Australia, aiming at enhancing the competitiveness of Ningbo's diary industry by taking advantage of the high-quality overseas ranch resources and cattle resources. Since the beginning of this year, Jiangbei District has approved the investment of 19 enterprises in foreign areas and approved the investment of US$164.51 millions from the Chinese side, covering such areas as trade, services, mining, agriculture, animal husbandry and fisheries. Enterprises in the district developed further in their way of internationalization.
Ningbo is an export-oriented city and a large number of products by enterprises in Jiangbei District are produced for export. In June this year, China National Development and Reform Commission and other related departments issued the "implementation guidance of encouraging and conducting private enterprises to carry out beyond-the-border investment", encouraging enterprises especially private enterprises to "go global". It is at that time that the transformation from "product export" to "beyond-the-border investment" started in Jiangbei District and many enterprises began to diversify their investment objects.
Establishing overseas companies to internalize the links of imports and exports and raw material supplies is the traditional way of beyond-the-border investment for many enterprises. For example, Ningbo Mining Group established a joint venture with its Mexican partner, and with seven independent mining blocks and shares in five mining blocks in Mexico, the company has greatly reduced its cost in resources. Some enterprises chose to invest in services industry. For example, Runyes Medical invested a million euros in buying the shares of an Italian company, further expanding its overseas business. Ningbo Starocean invested in the construction of the logistics and processing project of sesame seeds in Tanzania.
In the first three quarters this year, the overall volume of imports and exports in Jiangbei District reached US$2.85 billion, a year-on-year increase of 22.9% and the highest in the whole city. Specifically, the volume of exports reached US$1.047 billion, up by 78.81% over the same period last year.
To help enterprises to seize the opportunity of export-oriented transformation and upgrading, Jiangbei District has strengthened its supporting policies. This year, related policies have been carried out to award a maximum of 1.5 million yuan for enterprises with an export volume of over US$3 million according to the increase scale. By the end of October, enterprises in the district have been organized to apply for nearly 400 different foreign trade subsidy projects with an actual payment of supporting capitals of over 20 million yuan.
In addition, Jiangbei District has launched the long-term mechanism of "business service managing". 515 government officials in the district acted as "business service managers" for enterprises to provide long-term service for the enterprises' transformation from export-orientation to import-orientation.
