Copyright 2024 - Ningbo Life / Ningbo Expat

Ningbo explores Bay links

Tremaine van Aardt

TWELVE of the Chinese city of Ningbo's most influential business delegates were given an introduction to Nelson Mandela Bay's 2020 vision behind closed doors at City Hall yesterday.

The Ningbo delegation was invited by the municipality to explore possible trade investments between Ningbo, which is the economic centre of the southern part of the Yangtze River Delta, and the Port of Ngqura.

"Port Elizabeth has huge potential in terms of trade," Ningbo's vice-mayor, Jia Xiang Hong, said. "We are here because our cities have more in common than one realises. We are both port cities with a rich cultural heritage, and I look forward to a partnership in the future."

 

The enthusiastic atmosphere in the room kept a smile on the face of Bay mayor Ben Fihla as he described the meeting as an opportunity to grow the metro, both economically and socio-economically.

"China is the biggest international trader, and they have effectively zero unemployment. We intend to learn all we can from them in terms of structures and tactics in boosting South Africa, and more specifically Port Elizabeth, in that same direction.

"The partnership will improve the state of the Bay both economically and culturally," Fihla said.

Ningbo foreign affairs deputy director Rongzhong Ye echoed Fihla, saying the Bay had the potential to become a global trading force.

"The resources are here and so is the manpower. We are confident in this venture between the twin cities.

"We would like to invite your city delegation to attend the 12th China International Consumer Goods Fair from June 8 to 11 at the Ningbo International Convention Centre," Ye said.

Hong said meetings would be arranged between the Bay and Ningbo commerce chambers to discuss a more concrete means of progression. The meetings would take place in June.

He also stated that China would provide assistance to its sister cities, including the Bay, in training workers and with other aspects involved with economic development, free of charge.

The statement was welcomed with applause from all present.

Nelson Mandela Bay Business Chamber chief executive Kevin Hustler said the partnership could bring in potentially billions of rands and decrease the 28% unemployment figure in the region.

"We are an automotive city, so our focus will be there. But there are many other support industries that should be explored, such as petrochemical products, renewable energy, light manufacturing and tourism.

"The problem is not so much in securing investment as it is being prepared for when the investment does come. If we don't skill our workforce, the Chinese will bring their own labour and we won't gain much from this venture," he said.

CSR New Energy Company in progress

The other day, the equipment of rollers and laser welders imported by CSR New Energy Company arrived at Yinzhou. "We will build two production lines for super capacitors. The annual production is estimated to be 1 million pieces, valuing 500 million yuan," said a related person of the company.

Ningbo CSR New Energy Company is an important part of the CSR-Ningbo Production Base. The company is engaged in the R&D and production of new-type energy storage products. The investment in the first phase project is 220 million yuan, and the output for this phase is mainly super capacitors. Compared with ordinary chemical batteries, the super capacitors are featured for rapid and limitless charge and discharge and environmental friendly. They will be widely used in electric automobiles, mixed fuel automobiles, power, railway, communications, national defense and consumer appliances.

It is learned that in the next five years Ningbo CSR New Energy Company will invest 1.8 billion yuan striving to turn itself into a super capacitor production base the largest in Asia and the third largest in the world.

New high in foreign capital use this year

Ningbo Municipal Party Committee and Ningbo Municipal Government set 2013 as the year "to raise efficiency of investment". For this, Ningbo has made great efforts in the first quarter of this year. According to a meeting on business invitation held on April 3, in the first three months this year, Ningbo accepted 69 foreign investment projects, with the investment totaling 2.705 billion US dollars; the contract foreign capital amounts to 1.33 billion US dollars; the actual utilized foreign capital amounts to 940 million US dollars. The three figures increased by 8.7%, 15.8% and 24% year on year respectively, all being historical new highs.

Modern service industries are till the highlight of foreign investment. In the first quarter of this year, Ningbo accepted foreign-funded financial leasing projects, with the investment totaling 110 million US dollars and registered capital totaling 70.33 million US dollars. Projects of marine projects are favored by foreign investors. In the first quarter, the contract foreign capital in traffic and warehousing increased by 124.3%. Thanks to Ningbo's plan to accelerate economic transformation, scientific services are much favored by investors. The fully funded foreign capital increased by 243.2% year on year.

An amusement park to open in Ningbo in the next year

In the next year, an amusement park will open in Ningbo, a much favored place for children. According to Ningbo Customs, large entertainment equipment components have arrived to the port of Ningbo.

These components are for the project of Ningbo Global City. At present, the themed amusement park of Ningbo Global City is under busy construction. Its coverage area is 70,000 sq m, and the project will complete by the end of 2013.

4 Ningbo enterprises in top 200 foreign trade enterprises of China

Recently, the General Administration of Customs released the list of top 200 foreign trade enterprises of China in 2012. Ningbo Qimei Electronics and Shenzhou Textile are listed in top 200 export enterprises, ranking 118th and 172nd respectively. Ningbo Qimei Electronics, Zhejiang Yisheng Petrochemical and China-Base Ningbo Foreign Trade Co., Ltd. are listed in top 200 importers, ranking 83rd, 142nd and 153rd respectively. Ningbo Qimei Electronics Ningbo Zhonglin Foreign Trade Co. Ltd. have been in the list for successively five years. Shenzhou Textile has been in the list for successively four years.

Subcategories

f t g m