Foreign trade in private enterprises accelerated in the first half of the year

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Category: Governmental News

Published: Tuesday, 26 July 2011 09:53

According to statistics from Ningbo customs house, in the first half of 2011, foreign trade in private enterprises stabilized and began to pick up, with import amounting to ＄23.17 billion, a corresponding increase of 22.7% and 2.8 percentage points higher than the increase in foreign trade in Ningbo for the same period, accounting for 49.5% of the sum total of import and export, contributing 55.1% to the growth in foreign trade in Ningbo.

Private enterprise are a major force of foreign trade in Ningbo and have become the most active and vigorous market entities of foreign trade. With the global economy picking up, with the policy support of the state and local government, the import and export business in private enterprises have begun to pick up steadily. As far as business partners are concerned, the export markets of enterprises mainly include the European Union, the United States and ASEAN countries while business with the Oceania, Japan and Russia has also increased rapidly.

The biggest amount of exported products in the first half of the year are mechanical and electrical products, followed by labor-intensive products, both of which increased quickly. The export of mechanical and electrical products amounted to ＄8.23 billion, a corresponding increase of 18.42%, accounting for 54.2% of the sum total of export of the same period. At the same time, the export of traditional labor-intensive products amounted to ＄4.95 billion, a corresponding increase of 24.4%.

Ningbo utilized foreign investment of 1.1 billion USD in first five months

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Category: Governmental News

Published: Tuesday, 19 July 2011 14:27

According to statistics of the foreign trade bureau, Ningbo has newly approved 148 foreign investments during the first five months, with the contractual amount reaching 1.88 billion USD, up 41% over the same period last year, with the actual utilized amount reaching 1.16 bln, up 26%. In May alone, the contractual amount reached 435 million USD, and the actual mount 259 million USD, up 52% and 39% respectively.

HOPSCA-(Hotel, Office, Park, Shopping mall and Convention Area) has become a heated spot for foreign investment. During the ZJTIF, the Poly Plaza has been started up in Zhenhai, which consists of shopping malls, entertainment facilities, restaurants, hotels and offices), with planned area of 350,000 m2, which is about 1.6 times larger than the Tianyhi Square. In addition, 555 Group of the US is also to invest 800 million dollars in the Jiangbei District to start up a HOPSCA project.

Statistics show that the foreign investments in the tertiary sector increased by 1.3 times during the five months. Those of scientific research, wholesaling, retailing, rental service, commerce, transportation and warehousing have increased by 6.8 times, 2.9 times, 2.6 times and 51.8% respectively.

The confidence of foreign investors in Ningbo has been strengthened. This year, the Ningbo Airtech Company has increased the total investment from 48.55 mln UD to 84.55 mln USD, with the registered capital increased from 20 million to 32 million. Recently, the company set up an engineering center of 40,000 m2 in Fenghua, with investment of 100 million yuan.

Another example is the Ningbo Guanbao Warehousing Co., Ltd, which increased its investment from 52 million USD to 1,020 million USD. "We are optimistic about the prospect of Ningbo market. Ningbo's maneuver to forge an international big port has consolidated our confidence in expanding investment", said an executive of the company.

Statistics also show that about 100 foreign companies have increased their investment during the first five month, with the contractual investment increased reaching 510 million USD.

500 companies exempted over 100 million yuan

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Category: Governmental News

Published: Tuesday, 19 July 2011 14:35

On July 13, the People's Bank of China Ningbo Branch released the information that since the cross-border RMB settlement was started on a trial basis on June 23, 2010, the cross-border settlements by the end of June reached 27.291 billion yuan, which means the exchange costs saved for 500 companies reached 100 million yuan.

Cross-border RMB settlement services are getting multifarious, such as RMB credit settlement, RMB L/G, RMB collection, etc. In terms of settlement structure, trade of imported goods takes a dominant position. In about a year's time, the settlements for imported goods amounted to 16.15 billion yuan, accounting for 59.19%. The settlements for exported goods keep rising too, totaling 502 million yuan during the year.

The piloting settlement of overseas direct investment has made some breakthroughs. Through increment of investment by RMB and project investment, the direct investment via RMB totaled 264 million yuan. The investment increment by foreign investors and loans of overseas shareholders reached 499 million yuan.

The overseas regions for RMB settlement keep increasing, from the original HK and Macau, Asian, to the US, Russia, the UK, France, Germany, Australia, Brazil, Argentina, Iran, UAE(United Arab Emirates), totaling 44 countries and regions.

Ningbo to introduce 20,000 talented people for smart city construction

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Category: Governmental News

Published: Tuesday, 19 July 2011 14:25

A meeting on cultivating talented people for smart city construction was held a couple of days ago. Some 120 representatives from Zhejiang University Software College, Ningbo University and other institutions took part in it.

Information from the Smart City Construction Leading Group tells that during the 12th Five-Year Plan, the city will optimize the cultivation system and try to introduce 20,000 talented people for smart city construction, including 100 top-notch professionals, 2500 returned scholars, and 5000 people badly needed by various sectors, 2000 foreign experts, etc. Besides, it aims to cultivate 4000 executives and skilled people, 200 entrepreneurs, and 5000 people of IT and major industries, 5000 people engaged in modern service industries and internationalization.