Small, micro-sized firms: Labor shortage eased

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Category: Ningbo Business

Published: Tuesday, 31 July 2012 08:30

The number of employees working in Ningbo's small and micro-sized firms amounted to 84.05 million in the first half year, an increase of 8.0 percent over the first quarter, according to a recent statistics issued by Ningbo survey team of the National Statistics Bureau (NSB).

The NSB data show that local small and micro-sized firms are still facing a labor shortage of 2.71 million now, although the shortage is 38.6 percent smaller than the first quarter. A questionnaire reveals that 48.6 percent of small and micro-sized firms do not intend to hire new staff currently, representing 7.5 percentage points increase over the previous quarter. Another 28.3 percent of small and micro-sized firms reported that they had not recruited enough employees they needed or could not recruit any employees at all. The figure means the labor shortage decreased 1.6 percentage points over the previous quarter. The statistics reveals that the labor shortage of small and micro-sized firms has eased in the first half year. However, the average monthly salary of Ningbo's small and micro-sized increased 9.6 percent year on year to 2,181.32 yuan, a 190.74 yuan rise over the same period last year. 38.4 percent of the local firms believe that the rising labor cost will leave them facing a dilemma

Ningbo leads nation in ECFA imports

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Category: Ningbo Business

Published: Tuesday, 31 July 2012 08:24

Ningbo has recently imported its first batch of 5 kg tariff-free Taiwan-grown oolong tea, which was sold out immediately. Manager of the importer, Ningbo Wenbao Trading Co., Ltd., said that his company will soon import more Taiwan tea to meet the market needs. Early this year, as China lifted all tariffs on the Taiwan products under the terms of the Economic Cooperation Framework Agreement (ECFA) with Taiwan, many tariff-free goods entered local market, offering more choices to local consumers.

Customs statistics show, Ningbo Port has imported under ECFA 658,200 tons or $ 1.036 billion worth of Taiwan-made products in the first half of this year, saving 281 million yuan in tariff. The figure represents a year-on-year increase of 41.95 percent, 37.22 percent, and 1.4 times, respectively. Ningbo's ECFA imports accounted for 38.42 percent of the national total, making Ningbo a leader of the country in ECFA imports.

Wang Huihui, an customs official, said, "As Chinese mainland further implements ECFA tariff reductions, many Taiwan specialties are expected to enter the mainland market. Ningbo will continue to see growth in ECFA imports in the second half year."

Heat wave heats Ningbo's AC export

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Category: Ningbo Business

Published: Tuesday, 31 July 2012 08:26

As the summer heats up, the overseas demand for air conditioners are growing strong again. Local manufactures begin to see the busiest season earlier than usual this year. According to latest statistics issued by Ningbo Customs, Ningbo has exported in the first half of this year 1.67 million air conditioners, worth of $ 320 million. The figure represents a year-on-year rise of 69.4 percent and 50.4 percent, respectively, hitting a record high over the same period. The export volume in April alone exceeded 40 million units, setting a monthly record.

The air conditioner exportation has seen rapid growth in both traditional and emerging overseas markets. In the first half year, Ningbo has export 300,000, 210,000 and 124,000 air conditioners to the United States, the European Union and Israel, its top three exporters. The figure means a year-on-year increase of 4.4 times, 29.2 percent and 14.3 times, respectively. The export volume to the three exporters contributed to 38 percent of the city's total export volume over the same period.

While the air conditioner export turnover is on the rise, the export prices keep falling. Shao BinBin, a local customs officer, said, "We handle air conditioner exportations nearly every day in recent months. Compared with previous years, air conditioning export volume rises significantly, but the price keeps declining. Most manufactures produce OEM products instead of their own brands." Customs statistics show, the average export price of Ningbo-made air-conditioners has fallen 6.7 percent year-on-year to $ 189 per unit in the first half of the year

China Phoenix Plaza Project gets nod

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Category: Ningbo Business

Published: Tuesday, 31 July 2012 08:23

According to a recent statement issued by the National Development and Reform Commission (NDRC), the country's top economic planer, it has formally approved the China Phoenix Plaza Project in Dubai, officially kicking off the construction.

On September 28, 2011, Ningbo Phoenix Century Plaza Investment Co., Ltd invested $ 400 million in the project in collaboration with the UAE Dubai Milas Holding Group. The signing ceremony was held in the Zaabeel Palace in Dubai. The project is so far the largest international commercial project in Dubai invested and managed by private Chinese enterprise.

As the preparatory work for project has been completed, the plaza is expected to be completed and opened in 2014. The plaza covers an area of 856 mu (57 hectares), with a building area of 700,000 square meters. The finished plaza plans to invite 4,000 to 6,000 Chinese companies.  Covering 30 industries and more than 200,000 products, the plaza will attract 100 million buyers and 20 million consumers from North Africa, South Asia, southern Europe, the Middle East and Arabian region. The plaza is positioned as a Chinese commodity overseas trade center. As a build-operate-transfer (BOT) project, Chinese side, as the designer and builder, shall manage and operate the plaza for 35 years and will hand it over to the Dubai side in due time .

Yang Wenjun, head of the project, said the plaza has attracted the attention of many companies in Zhejiang Province and Ningbo, and some are submitting applications to open stores in the plaza