Ningbo becoming the gathering place for foreign-invested enterprises

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Category: Ningbo Business

Published: Wednesday, 12 October 2011 06:47

Word came from the annual conference of Ningbo Foreign-invested Enterprises Society held on October 8 that Ningbo has already become the gathering place for the high-quality foreign investment and foreign-invested enterprises.

Statistics show that every introduction of 100 million dollars of foreign investment means the country can get 100 million yuan as tax revenue and another 3427 job positions will be created. It also means a total export and import value of 145 million dollars and a profit of 157 million yuan.

According to Ningbo Foreign Trade and Economic Cooperation Bureau, in 2010, there were 5772 foreign-invested enterprises with a total investment of 44.21 billion dollars, including a registered capital of 25.56 billion dollars. The realized investment added up to 23.81 billion dollars. By the end of 2010, the total investment, registered capital and realized investment had all increased compared with the previous year, an increase of 4.2 billion dollars, 3.04 billion dollars and 2.53 billion dollars respectively. 3221 foreign-invested enterprises proved profitable, an increase of 182 over the previous year. The profitable enterprises made up 56% of all the enterprises tested, up 3% over the previous year.

As one of the first opening-up coastal cities since the introduction of reform and opening-up policy, Ningbo has been making efforts to attract foreign businesses and investments actively and efficiently in a proper way. The investments have been closely integrated with equipments, technology, management and talents on a certain scale. The consistent inflow of the foreign investment greatly compensated the shortage of fund for Ningbo's development. In the meanwhile,  by bringing in a large quantity of advanced production technology and administration experience, the foreign investment played a significant role in promoting the scientific and technological progress and industrial upgrading, in boosting tax revenue, employment and imports and exports, and in achieving the balanced development of different regions.

Marine "Blue Economy" forged

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Category: Ningbo Business

Published: Wednesday, 12 October 2011 06:44

Lying on sun-drenched beach, binging on yummy seafood, or experiencing East Sea folk custom, all of them are available in Ningbo.  During the National Day Holiday, the city has introduced a series of activities with the theme of "ocean", once again demonstrating the unique charm of the ocean.

The city is rich in marine tourism resources, ranging from natural scenery such as islands, beaches, grotesque rocks formations to culture resources like maritime Silk Road and coastal defense. It also enjoys the convenient transportation because of Beilun Port, Hangzhou Bay Bridge and other first-class transportation systems.

According to statistics from the Holiday Office, 426,000 people visited Ningbo on Thursday. The number of visitors surpassed 20,000 in four places, namely, Dongqian Lake, Xikou scenic spot, Daqiao ecological farm, and Songlan Mountain scenic spots.

European debt crisis affects exports of plug and socket products

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Category: Ningbo Business

Published: Wednesday, 12 October 2011 06:44

As a major manufacturing base of the European market of plug and socket, Cixi saw a decline in its exports of plug and socket this year due to the European debt crisis. Statistics show that in the first three quarters of 2011, Cixi Inspection and Quarantine Bureau accepted 11682 batches of plug and socket exports, 12.52% lower than that of the same period of last year, with a total value of 336 million dollars, decreasing by 5.61% over the same period of last year.

90% of plug and socket products in Cixi is exported to Europe and 90% of the low and middle-grade plug and socket products in the European market come from Cixi. The global financial crisis of 2008 led to the decline of Cixi's plug and socket exports in 2009, the first decline in the last 15 years. This year, the ever increasingly serious European debt crisis greatly affected exports of plug and socket products. According to the analysis of some insiders of the trade, because of the uncertainty of the European debt crisis, the decreasing trend of the exports will not change very soon in the near future and they are not optimistic about the exports of next year.

Guide the healthy development of folk loans

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Category: Ningbo Business

Published: Wednesday, 12 October 2011 06:43

Many small and medium-sized companies in China are currently finding it hard to get loans from banks and many Chinese households desperately need somewhere to put their money other than the overheated property sector.  Therefore, folk loans are prevalent in Zhejiang Province.  Authorities in China are trying to allay fears of a credit binge that may create non-performing loans.

On Monday and Tuesday, Premier Wen Jiabao visited Shaoxing and Wenzhou in Zhejiang Province where he conducted an investigation on economic operation. Premier Wen got information about the market supply and social security from locals and he also inspected some local enterprises. On discussions held during the visit, the premier asked in detail about the operation situations of small and medium-sized enterprises and situations about microfinance companies and folk loans.

A meeting on the development of small enterprises was held in Wenzhou on Tuesday afternoon. During the meeting, Mr. Wen said that in order to respond to the changes of international environment and domestic economic situations, positive fiscal policy and prudent monetary policy have been adopted since 2011, striving to maintain the stability of general commodity prices. Measures have been taken to rein in rising prices and keep the steady and rapid economic development.

He also addressed that we have strengthened the regulation of real estate market and built more affordable houses. Efforts have been made to promote the efficiency and stability of the financial system. We had accelerated the construction of agricultural infrastructure to welcome the eighth successive growth of food production.

Our economy has been shifted from policy-motivated to independent growth. However, we should not fail to see that we still had a long way to go due to uncertainties and instability.

We must keep a somber mind and decisively make the right move in time. We must respond to the changes at home and abroad to improve our macro-control so as to maintain the stability and flexibility of our policies.