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Category: On The Campus
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Published: Tuesday, 25 September 2012 15:19
The prize giving ceremony for the Technology Business Plan Competition was held in Ningbo Innovation Port on the afternoon of Sept. 22. A total number of 105 awards worth of 7.9 mln yuan were unveiled on the ceremony. The more exciting news was that 23 business plans on the competition had successfully raised fund of 340 mln yuan.
The competition was jointly sponsored by the Ministry of Science and Technology and Ningbo Municipal Government. Since its launch in March and especially since the special report of building Ningbo into an angelic city written on June, 14, the authority had endeavored to encourage more private capitals to invest in Ningbo and more talents to start businesses here. In answer to the government’s appeal, many departments and offices such as the Municipal Personnel Office and Ningbo Science and Technology Bureau went to Beijing and Shanghai and held advertising activities there. What’s more, they also sent invitations to over 200 overseas students’ organizations via Overseas Students Association and Chinese Professional Association and other agents. At the beginning of this month, Wang Huizhong, the Party Secretary led a team to Silicon Valley and New York and held talks with overseas talents, appealing them to start businesses in Ningbo.
In the meantime, the competition made changes on the reward mechanism, setting up a special award to overseas talents who start businesses in Ningbo. Among which two are awards for overseas elites, each with a sum of one mln yuan. And the winners of these two awards were announced on the spot, being the program leaded by Dr. Dai Junhui and the program of Hong Kong University of Science and Technology respectively.
Zhai Lixin, Deputy Director of the Department of Policy, Regulations and Reform of the Ministry of Science and Technology made his congratulation on behalf of the Ministry of Science and Technology and expressed his sincere hope that Ningbo could be built into an angelic city, an innovative city as well as an entrepreneurial city.
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Category: Ningbo Business
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Published: Tuesday, 25 September 2012 15:19
Recently, local quality watchdog successfully settled a trade dispute through the internet with a US Company over the quality problems of the toys imported from a Ningbo manufacturer. The later agreed to pay the US side 20,000 yuan as compensation.
A few days ago, the Administration Bureau for Industry & Commerce in Fenghua of Ningbo received an e-mail from a US company named Lyco product LLC, complaining the colors of the $34,000 toys it imported from a Fenghua Toy Factory are inconsistent with the original samples. The Administration for Industry & Commerce soon conducted an investigation in the involved toy factory.
According to the investigation, the US company sent representatives a month ago to the Fenghua toy factory and signed a contract worth $ 34,000. The contracted stated that the seller's duties are complete as soon as the goods are delivered to the carrier.
After an in-depth investigation into the toy quality, the two sides had no objection to the quality of the sample after a face-to-face negotiation. The contract failed to make a clear agreement on the product quality, appearance, and color. The US buyer neither sent an inspector nor retained the samples for later identification.
Eventually, both sides accept the ruling of the local safety watchdog. The toy manufacturer agreed to compensate 20,000 yuan to the US company.
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Category: Governmental News
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Published: Tuesday, 25 September 2012 15:18
Yesterday, Ningbo University(NBU) signed a package of strategic co-operation agreements with 10 government departments including the Municipal Politics and Law Commission, the Civil Administration Bureau, and the Development Research Center. Besides, the university and Ningbo Daily Newspaper Group jointly set up an internship base for the journalism majors. Yu Hongyi, the Publicity Minister of Ningbo, and Zhang Minghua, the vice mayor, attended the signing ceremony.
According to the agreements, NBU will strengthen co-operations in the fields of information, scientific research, personnel training and exchanges, and construction of cooperation platforms.
Yu fully affirmed Ningbo University's efforts and achievement in serving local economy. She hoped that NBU shall continue its effort to serve the local economic and social development and enhance the capability to solve major economic and social issues in Ningbo. She urges NBU to further strengthen cooperation and exchange with more government departments, and jointly promote the sustainable development of Ningbo’s economy, order and culture.
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Category: Governmental News
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Published: Tuesday, 25 September 2012 15:17
Statistics released by Ningbo Customs yesterday shows the total volume of import and export between Ningbo and Hong Kong in the first eight months in 2012 stands at $1.49 billion, an increase of 1.1 percent on a year-on-year basis. The figure includes an import volume of $120 million, a year-on-year increase of 12 percent, and an export volume of $1.37 billion, a year-on-year increase of 0.2 percent. The data shows, Hong Kong has become Ningbo's 9th largest trading partner, playing a crucial role in Ningbo's economic openness.
Data shows from January to August, the processing trade volume between Ningbo and Hong Kong amounted to $870 million, an increase of 5 percent over the same period last year, accounting for 58.4 percent of the total Ningbo-HK trade value in the same period. The general trade stood at $570 million, an increase of 3 percent over the same period last year. Foreign investment dominated the Ningbo-HK trade, with 1.05 billion generated by foreign-funded enterprises from January to August, accounting for 70.5 percent of the total volume in the same period. Besides, the import and export under customs bonded supervision saw rapid growth, amounting to $30,160,000, an increase of 2.4 times over the same period last year.
Private business is playing an increasingly important role in Ningbo-Hong Kong trade as China allows more freedom and flexibility of private sector. During the first 8 months this year, the private businesses generated $114,000 in import and export volume, an increase of 1.7 times year-on-year.
Zhu Dagang, an official of the Ningbo Customs said yesterday: " Hong Kong is becoming Ningbo's 9th largest trading partner, next to the European Union, the United States, ASEAN, Japan, South Korea, Australia, Brazil and Taiwan. The increasing co-operations and exchanges between the two sides lead to the growing Ningbo-HK trade. In addition, "the Closer Economic Partnership Arrangement "(CEPA) also further liberalises economic and trade co-operation between Ningbo and Hong Kong.