Ningbo launches venture capital fund program-2

Details

Category: Ningbo Business

Published: Tuesday, 21 February 2012 10:00

Ningbo has launched a venture capital investment fund program that targets cooperation projects to be collected in public from today on.
With 250 million yuan earmarked for the first phase and 1 billion in total, the fund is non-profit. It aims at motivating the financial fund to give its leverage effect. By supporting commercial venture capital enterprises, the fund encourages social capitals to enter the field of venture capital, which is expected to improve the environment for venture investment in Ningbo.
According to the city's industrial development plan, the fund will mainly flow to areas of new materials, new equipment, new energy, new communication technology, marine high-tech, energy saving and environmental protection, health and creative designing. The fund will be for sharing but not holding equities, so as to ensure the decision-making independence and commercialized operation of venture capital businesses and startups.
To insure that the fund is wisely used, the government of Ningbo specially sets up a management committee as a decision-making body for the fund. Also, Ningbo Industrial Investment Group sets up an initiation fund management company, which is in charge of fund and investment. It will largely boost the development of startups and high-tech enterprises.
The projects to be collected mainly include two kinds. One is temporary equity projects, for which the fund will be introduced to venture capital businesses in the form of equity investment and it will retreat within an agreed period of time. The other is follow-up investment projects, for which the fund will be invested on startups selected by venture capital companies (which will be jointly funded by the fund and the venture capital companies). Projects of this kind must be in the administrative regions of Ningbo Municipality
All of the venture capital companies and high-tech enterprises that meet the conditions can apply. The fund will be available for projects that meet specific requirements, so as to better contribute to the transformation and upgrading of industries in Ningbo.

Retail sales grow in 2011

Details

Category: Ningbo Business

Published: Tuesday, 14 February 2012 11:41

Statistics released by the Municipal Trade Bureau on February 8 show that in 2011, 20 large department stores in Ningbo achieved a total sales of 9.168 billion yuan, an increase of 15% year-on-year, while 19 large supermarket chains achieved a total sale of 19.146 billion yuan, an increase of 9.9% year-on-year.

With growing urban and rural markets, branches and outlets of major shopping malls and supermarket chains sprung up last year. Statistics show that 20 large shopping malls opened 31 branches while the 19 large supermarket chains set up 939 outlets last year. With more stores opened in suburbs and rural area last year, the rural consumer market saw a large sales growth. Large shopping malls including Ninghai Pacific Department Store, the Beilun Jinhui department store, Lisi department stores, and Yuyao Tianyi shopping mall have gained a sales growth of 20% or more. Meanwhile, the supermarket chains targeting in suburbs like Jiabei, Kaikai, RT-Mart saw an average sales growth of 15% or more.

Last year, due to the uncertainties from both domestic and international market, a large gap in sales loomed among department stores and supermarkets. Last year, 3 shopping malls and 5 supermarkets reported their negative growth of annual sales, with one supermarket going bankrupt

Ningbo launches venture capital fund program

Details

Category: Ningbo Business

Published: Tuesday, 14 February 2012 11:43

Ningbo has launched a venture capital investment fund program that targets cooperation projects to be collected in public from today on.
With 250 million yuan earmarked for the first phase and 1 billion in total, the fund is non-profit. It aims at motivating the financial fund to give its leverage effect. By supporting commercial venture capital enterprises, the fund encourages social capitals to enter the field of venture capital, which is expected to improve the environment for venture investment in Ningbo.
According to the city's industrial development plan, the fund will mainly flow to areas of new materials, new equipment, new energy, new communication technology, marine high-tech, energy saving and environmental protection, health and creative designing. The fund will be for sharing but not holding equities, so as to ensure the decision-making independence and commercialized operation of venture capital businesses and startups.
To insure that the fund is wisely used, the government of Ningbo specially sets up a management committee as a decision-making body for the fund. Also, Ningbo Industrial Investment Group sets up an initiation fund management company, which is in charge of fund and investment. It will largely boost the development of startups and high-tech enterprises.
The projects to be collected mainly include two kinds. One is temporary equity projects, for which the fund will be introduced to venture capital businesses in the form of equity investment and it will retreat within an agreed period of time. The other is follow-up investment projects, for which the fund will be invested on startups selected by venture capital companies (which will be jointly funded by the fund and the venture capital companies). Projects of this kind must be in the administrative regions of Ningbo Municipality
All of the venture capital companies and high-tech enterprises that meet the conditions can apply. The fund will be available for projects that meet specific requirements, so as to better contribute to the transformation and upgrading of industries in Ningbo.

About 1000 foreign guests to attend CICGF

Details

Category: Ningbo Business

Published: Tuesday, 14 February 2012 11:40

According to the first preparatory meeting on February, the two events, namely, China Zhejiang Investment and Trade Symposium (ZJITS) and China International Consumer Goods Fair (CICGF), will be held during June 8-11, 2012 in Ningbo. The events set the theme as "Develop Modern Service Industry and Promote Urbanization Level".

During the two events, there will be trade talks between the world's top 500 enterprises and local enterprises of new industries in Zhejiang Province. An industrial partnering conference will be held on investment on equipment manufacturing industry, home appliance electronics industry and service industry.

CICGF has set up different exhibiting sections:namely,section of home appliances and electronics, section of household textiles and garments, section of sports, travel and recreation products, section of articles of daily use and gifts section and section of overseas exhibits and trade service. Meanwhile, a foreign trade factory exhibition will be on the schedule. Besides, the home accessories and wine display in the professional exhibition hall will open to visitors year-round.

Sources said, so far, about 1103 overseas guests from 23 countries have confirmed their intentions to attend the event