Copyright 2024 - Ningbo Life / Ningbo Expat

15 leading foreign trade enterprises promise to increase import

On the morning of March 30, a "hard indicator" of import growth brought together 15 key import enterprises and 12 financial institutions. The 15 enterprises, all ranking among the top 30 foreign trade enterprises in the city last year, account for 23.55% of the city's total imports last year.
In accordance with the detailed indexes of "225" double-trillion action of foreign trade, these enterprises, based on the import volume of 79.602 billion yuan, will continue to achieve the high growth rate of over ten, with the import volume growth of at least 7.96 billion yuan.
To deal with the arduous task, the heads

of 12 financial institutions, including ICBC, ABC and CCB, were invited to meet with the enterprises face to face. With the presence of some municipal government leaders, a warm "three-party talk" between the government, the banks and the enterprises began.
According to the government leaders, the "three-party talk" is a new starting point for Ningbo to expand imports. Last year, Ningbo achieved nearly 980 billion yuan in import and export, ranking sixth in the country. To be specific, the import value was 337.99 billion yuan. "This year, Ningbo's foreign trade volume will aim at 1.1 trillion yuan, of which 400 billion yuan will be for import. The 15 key foreign trade enterprises should take the lead and be the import pioneers."
With the goal in mind, the 15 enterprises discussed freely, and the demands mainly fell in two aspects:
The first is to increase the banks' credit-granting quota. "In the past, we used to make brands and industries without bank loans. But in recent years, great changes have taken place in the way of trade and the means of risk control in the import of bulk commodities. We obviously feel that we need to strengthen docking and increase the amount of credit." said Yang Herong, Chairman of Ningbo Zhongzhe Products Co., Ltd.. The bulk commodity importers are often in the middle of the industrial chain, as they should dock with large multinational enterprises in the upstream, and they have to invest a lot of money in order to get goods. The downstream is small and medium-sized enterprises, which is more difficult than bulk commodity importers. In the middle, the bulk commodity importers will have a huge demand for capital. The enterprises suggested that the financial institutions should increase the credit-granting quota or set up special credit-granting rules to deal with the large volume of the bulk commodity trade and the slow rotation of capital.
The second is to increase financial product innovation, credit insurance guarantee, fee reduction and profit transfer and facilitation services for imports. The enterprises suggested that financial institutions reduce restrictions on working capital loans and enhance flexibility. "We have two branches overseas, one in Poland and one in the United States. We hope to cooperate with banks to obtain the guarantee of internal and external loans. Taking Poland as an example, it is very difficult to set up an overseas warehouse, as it involves financing guarantee." said Chen Youxiang, President of Ninhua Group.
"As for the credit-granting quota, we will continue to increase support and provide diversified products and services." promised a related person in charge of Ningbo Branch of ABC. He said with a smile that he had just taken office and had planned to visit 30 key enterprises. Now the government helped him to find 15 such enterprises. Next, around the overall goal of import growth, banks and enterprises should overcome the difficulties and make progress hand in hand

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