Ningbo enterprise exports to Libya recovered

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Category: Ningbo Business

Published: Tuesday, 21 February 2012 10:07

Over the last two months, with development of the post-war restoration in Libya, the exports to Libya by Ningbo enterprises have begun to show signs of recovery. Statistics from Ningbo Entry-Exit Inspection and Quarantine Bureau show that from December 1, 2011 to mid-February this year, Ningbo exported 120 batches of statutorily inspected products with a goods value of $7.9 million, up by 135.3% and 283.5% respectively over the previous two months.

From March 2011, the war in Libya lasted for over six months, and the exports value from Ningbo to Libya dropped sharply by $6,000. With the start of the post-war reconstruction, Ningbo exported products including such large household appliances as fridges, freezers and washing machines, small household appliances as electric irons and vacuum cleaners and daily necessities as wool blankets have become increasingly popular in Libya's market. Judged from the exports in the last two months, taking into consideration such factors as the Spring Festival vacation, the exports value by Ningbo enterprises to Libya has gradually recovered to the pre-war level

Ningbo to Turn into Financial Center in South Yangtze River Delta

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Category: Ningbo Business

Published: Tuesday, 21 February 2012 10:05

According to the twelfth five-year plan for the development of finance in Ningbo released on February 16th, the targeted goal is to build Ningbo into a financial center of south Yangtze river delta by creating financial services for marine economy, shipping logistics, private capital, small and medium-sized enterprises as well as innovative financial service for rural areas and back-up service for finance. Those efforts are to lay a solid foundation in building Ningbo into a city strong in finance. 
    Financial Ecology to Rank First in the Whole Country
During the 11th Five-Year Plan period, Ningbo has basically established a financial system with a rational structure, strong functioning and increasing competitiveness. As a result, Ningbo boasters a strong financial advantage with the rapid development of finance, which lays a solid foundation in making Ningbo a regional financial center.
In the 12th Five-Year Plan period, we should continue to improve the size and overall strength of finance, boost the development of service economy and the ability to support economic construction in Ningbo. By the end of the 12th Five-Year Plan period, the output of financial sector is estimated to reach 80 billion yuan, with an average annual growth of over 16%, accounting for over 8% in the city GDP and over 20% in the tertiary industry.
Meanwhile, we have continued to improve the financial ecological environment, financial supervision as well as financial stability. We will work hard to maintain AAA credit assets quality and the national highest rating in corporate integrity. We will also strive hard to rank first in national financial ecology. With these efforts, a relatively complete credit information system has been established, laying a fine credit foundation in building Ningbo into a regional financial center.
Develop green finance. Financial institutions should be encouraged to pay more attention to energy saving and emission reduction, to vigorously develop "green credit", "green securities" as well as "green insurance", and to support enterprises and projects. We should conform to the trading trend of international carbon-emission right. In response to the energy saving and emission reduction strategy and large carbon emission by Ningbo port industry, we should proactively seek the establishment of environment exchange or carbon exchange, where carbon transaction can be performed. This new form of finance will facilitate energy saving and emission reduction.
As for the spatial layout of industry, "one main center and three financial gathering areas" will be built. One main center refers to the financial service center in east Ningbo. Three financial gathering areas refer to gathering areas of financial back-up industries in Hangzhou Bay New Zone, gathering areas of investment plaza in hi-tech park, and gathering areas of financial intermediary agent in the business district of south Yinzhou. Such a layout makes it possible to gather industries with similar financial services and it also highlights Ningbo's uniqueness of promoting financial services in marine economy and shipping logistics while developing regional finance

Standard Chartered Bank (China) entered the online financing platform

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Category: Ningbo Business

Published: Tuesday, 21 February 2012 10:06

The Ningbo Branch of Standard Chartered Bank (China) recently entered the online financing platform for Ningbo foreign trade enterprises, being the first foreign bank member of the platform. According to the statistics from Ningbo Foreign Trade & Economic Cooperation Bureau, the platform has so far taken in 19000 foreign trade enterprises as corporate members and attracted 272 financing service agencies, and in last year it managed to realize the financing matching with the value of 1.28 billion yuan.

The online financing platform for foreign trade enterprises was jointly established by Ningbo Foreign Trade & Economic Cooperation Bureau and Ningbo Center Branch of People's Bank of China. All foreign trade enterprises and financial institutions in Ningbo can become platform users upon free application. It is learned that all users can not only inquire about related financing information through the platform but also submit or undertake financing demands and take out the import and export credit insurance. In 2011, the platform received 152 financing demands from enterprises with a total value of 1.54 billion yuan, and the accomplished value for financing matching reached to 1.28 billion yuan

Raw Materials reduced in import prices

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Category: Ningbo Business

Published: Tuesday, 21 February 2012 10:04

It is learned from Hangzhou Customs on Feb. 14th that the prices of raw materials, which account for 60% of all the imported commodities of foreign trade enterprises in Zhejiang, have fallen. The latest statistics show that during January 2012, the value of major imported raw materials reached $3.83 billion, covering 59.8% of the total import value. They include iron-ore, primarily shaped plastics, unwrought copper, copper materials, scrap metal, xylene and etc. Of all the 20 major commodities, 9 have reduced in average import price, by a maximum of 33.2%, which resulted in the decrease of the total import price. (From Xinhua News Agency)