Ningbo's development of open economy in past decade
- Details
- Category: Ningbo News
- Published: Thursday, 28 February 2013 06:54
Since China initiated the reform and opening up policies, Ningbo seized the opportunity to set up the strategy of "developing Ningbo with an open economy", consolidating the momentum for stable and rapid economic development. Ningbo's open economy witnessed a breakthrough after the 16th CPC National Congress in 2002. The open economy, with its expanding scale and improving quality, is playing an active role in driving the rapid and sound economic and social development.
From 2002 to 2011, Ningbo's annual foreign trade volume rose from $10 billion to nearly $100 billion, an increase of nearly ten times. Ningbo encouraged foreign investment ten years ago and now it has stepped toward smarter project selection. Currently, it has attracted a large number of high-tech projects and branches of the Fortune 500 companies. The foreign investment in actual use exceeds $ 22 billion, 4.4 times over the past 25 years. The annual overseas
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