First cross-border RMB loans in Ningbo

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Category: Ningbo Business

Published: Tuesday, 14 February 2012 11:37

Recently, a shipping company in Hong Kong has obtained 135 million yuan loans from the Export-Import Bank of China Ningbo Branch, initiating the first cross-border RMB loans in Ningbo.

In November 2011, the Export-Import Bank of China Ningbo Branch signed a RMB loan contract with the Hong Kong shipping company. The loans, taking the form of export buyer's credit, shall be used to pay a Ningbo shipbuilder. In December 2011 and January 2012, the bank has issued 101 million yuan and 34 million yuan loans respectively to the Hong Kong shipping company.

The major cross-border RMB loan enables buyers and sellers to avoid the losses they might otherwise have incurred due to exchange rate changes. In addition, it opens a new financing channel for overseas buyers.

It is learned that the People's Bank released guidance of RMB loans of overseas projects in October 2011, clarifying the specific procedures of the cross-border RMB loans. The experts believe that the cross-border RMB loans service not only promotes the internationalization of the RMB but also offers more support to foreign trade enterprises in Ningbo.

Imported kiwi becomes hot pick

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Category: Ningbo Business

Published: Tuesday, 14 February 2012 11:33

According to the latest statistics from Ningbo Customs, in 2011 Ningbo imported a total of 191.3 tons of fresh kiwi, worth of $ 478,000, an increase of 40.8 percent year-on-year, or an increase of 1.4 times. The average import price was $ 2,499 per ton, up 72.9 percent year on year.

It is said that the fruit is rich in vitamin C, A, E and potassium, magnesium, and fibers, and it has a far more nutritional value than other fruits. A kiwi can provide twice as much as the amount of vitamin C that human body needs a day. Besides, it has notable effects of oxidation resistance. Therefore, Kiwi fruit is honored as the "king of fruits". Imported kiwi sells well in Ningbo with consumers loving its good size, green color, and the sweet and delicate taste. However, the retail price in the supermarket is still much higher than domestic kiwi, and sometimes people can buy more than 500 grams domestic ones with the money for one imported kiwi. To the surprise of most people, all imported kiwi fruit in Ningbo were imported from France, not New Zealand.

Price of imported grain hikes in 2011

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Category: Ningbo Business

Published: Tuesday, 14 February 2012 11:34

Customs sources said Ningbo has imported 101 tons of grain, a decline of 15 percent year-on-year. The total value stood at $ 560 million, an increase of 16.8%. The average price remained $ 554.5 per ton, an increase of 37.1 percent year-on-year.

In the mode of general trade, the main mode of grain import, Ningbo has imported grain of 832,000 tons, with a drop of 9.6 percent. Except 77.4 tons imported by private enterprises (no imports reported a year earlier), all the rest were imported by foreign-invested enterprises. Brazil and the United States were two biggest importers, with 443,000 tons and 389,000 tons import, a drop of 14.3 percent year-on-year and an increase of 5.6% year-on-year respectively. Imported grain from the two countries accounted for 82.4% of the total grain imports for the same period; In addition, there were 3.8 tons imports from Argentina, while no imports were reported from Argentina a year earlier.

The bulk of imports were beans. In 2011, Ningbo imported a total of 832,000 tons beans, a decline of 5.9 percent year-on-year. This included 178,000 tons cereals and cereal powder, a drop of 41.4 percent year-on-year. Soybean imports reached 831,000 tons, or 82.3% of the total imports, which was a drop of 6 percent over the previous year. 77.4 tons of dry peas dominated the rest of the imported soy products, with no imports reported a year earlier.

Ningbo's transaction of technologies breaks through the 1 billion yuan mark

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Category: Ningbo Business

Published: Monday, 06 February 2012 10:00

According to the statistics of the Ministry of Science and Technology, in 2011, Ningbo has registered 1,198 transfers of technologies and the contract value of the transfers reaches 1.0916113 billion yuan, breaking through the 1 billion mark for the first time. Compared with 2010, the number of transfer and the contract value increase by 35.5% and 11.2% respectively.

In the last year, the city exported 1,198, 314 more than in 2010, increased by 35.5%. The contract value mounts to 1.0916113 billion yuan, 109,821,300 yuan more than in 2010, increased by 11.2%.

"This is the first time Ningbo breaks through the 1 billion mark in the transfer of technologies and this indicates that Ningbo has entered a new stage in its scientific and technological creativity," said a related person from Ningbo Municipal Bureau of Science and Technology