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Category: Governmental News
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Published: Tuesday, 12 June 2012 09:22
According to the latest statistics from Ningbo Municipal Bureau of Finance, the total fiscal revenue of the first five months reaches 71.9 billion yuan, up by 4.9% over the same period last year. The general fiscal budget expenditure stands at 28.42 billion yuan, up by 16.1% over the same period last year.
In May, Ningbo's general budget revenue reached 11.96 billion yuan, up by 7.4% over the same period last year. To be specific, the local fiscal revenue was 5.19 billion yuan, down by 1.3%, and the central fiscal revenue was 6.77 billion yuan, up by 15.2%. Ningbo's general fiscal budget expenditure in May was 5.85 billion yuan, down by 2.8% over the same period last year.
In terms of export tax rebate, in May, Ningbo actually accomplished an export rebate of 5.34 billion yuan, up by 68.4%. While in the first five months, the realized export tax rebate reached 23.79 billion yuan, up by 29.6%
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Category: Governmental News
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Published: Tuesday, 12 June 2012 09:22
According to Ningbo Foreign Trade & Economic Cooperation Bureau, enterprises in Ningbo are accelerating their pace of "going out". In the first four months of this year, 79 overseas enterprises and organizations are approved, with a total investment of $478 million, up by 31.1% over the same period last year.
By the end of April, there had been 1507 approved overseas enterprises and organizations from Ningbo, among which there are over 1000 trade companies and agencies, distributing in 97 foreign countries and regions. The total investment from Ningbo reached $3.168 billion, which makes Ningbo No. 1 among all the 15 sub-provincial cities in terms of the investment scale.
Not long ago, Ningbo greeted the first non-government inspection delegation from the United States. "We want to seek investment from China to our projects." George Capon, head of the delegation, who had worked many years on Wall Street, showed great interest in Ningbo's private enterprises. "We have a yacht project, you can obtain 30% shares with an investment of $20 million. We are earnest to cooperate with private enterprises in Ningbo."
According to a related official from Ningbo Foreign Trade & Economic Cooperation Bureau, this is the first time for a non-government inspection delegation from the United States to come to Ningbo. "The visiting revealed a message that to some capable enterprises in Ningbo, 'going out' means holding more shares of better companies with less investment."
In fact, Ningbo enterprises are speeding up their pace of "going out". At the beginning of this year, the Lawrence Company of Ningbo Huaxiang Group acquired 100% shares of Northern Engraving Corp., a company manufacturing automobile interiors, by investing $46 million. It means that Huaxiang Group will obtain half of the market shares for middle and high-end aluminum alloy automobile interiors in the world.
In the meanwhile, Ningbo enterprises are going out to overcome the bottleneck of resources shortage in Ningbo by making the most of the relatively inexpensive resources in other countries. In last year only, seven overseas resource enterprises were approved with an investment of $189 million from Ningbo enterprises, up by 231.7% over the previous year.
Through overseas mergers and acquisitions as well as overseas cooperation, Ningbo enterprises are accelerating their pace from products "going out" to capital "going out". In the recent years, some overseas mergers and acquisitions by Ningbo enterprises are quite impressive. The accumulated investment from Ningbo enterprises in a range of big projects, such as Youngor's acquisition of Xin Ma Apparel International Limited, Joyson's acquisition of Preh Group, and Evergreen's acquisition of Canada MAG, surpassed one billion dollars.
An analysis from Ningbo Foreign Trade & Economic Cooperation Bureau shows that in the past five years, the scope of overseas investment by Ningbo enterprises have extended from the traditional fields including trade and logistics to such emerging fields as R & D manufacturing, resource development, new energy and ecological development. In 2011, the overseas investment by Ningbo enterprises exceeded $1.1 billion, accounting for 34% of the total investment from Zhejiang Province.
According to Yu Danhua, Chief of Ningbo Foreign Trade & Economic Cooperation Bureau, with the increased constraints on resources and labor forces, Ningbo will continue to adjust and improve its developing pattern of external economy. It will encourage more enterprises to "go out" to get involved in the international economic circulation and expand their space of survival and development
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Category: Ningbo Business
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Published: Tuesday, 12 June 2012 09:21
It is learned from the organizing committee of 11th CICGF that as a major activity of this year's session, the "2012 Foreign Trade Enterprises Expo" will be held between June 8 and 11. The exhibitors are mainly small and micro enterprises.
The expo will have 890 booths with a total area of 25,000 square meters in No.7 and No.8 Halls of Ningbo International Convention and Exhibition Center. The main exhibits are handicrafts, gifts, car accessories, cosmetics, textiles and garments, shoes, hats and bags, leather wares and hardware and machinery. Besides, such joint-stock banks and local banks as Minsheng Bank, Merchants Bank, Everbright Bank, Ningbo Bank, Yinzhou Bank and Mintai Commercial Bank are invited to provide financing services for small and micro enterprises on-site.
According to a survey by Ningbo Foreign Trade & Economic Cooperation Bureau, there are over 7000 small and micro enterprises (with exports below five million dollars) in Ningbo, accounting for 70% of the total number of enterprises involved in exports. Over 600 small and micro enterprises form East China, one third of them being Ningbo enterprises, have applied to participate this year's Foreign Trade Enterprises Expo. Reportedly, some small and micro enterprises, such as those mold and stationary enterprises in Ninghai County and textile and accessories enterprises in Yinzhou District, will attend the expo as groups