Ningbo in the lead of Zhejiang in investments in foreign countries
- Details
- Category: Ningbo Business
- Published: Tuesday, 31 January 2012 10:15
The other day, a company of Ningbo Huaxiang Group Co., Ltd. spent some 46 million US dollars purchasing 100% of the share of an American company of automobile decorative components.
Since the 11th Ningbo Municipal Congress of Party Representatives, Ningbo has firmly carried out the opening up strategy and by both "bringing in" and "going out" it has made the best use of both international and domestic markets.
Statistics from Ningbo Foreign Economy and Trade Bureau shows, in 2011, the total of self-managed import and export reached 98.19 billion US dollars, 132.6% more than in 2006. The overseas investment amounted to 1.1 billion US dollars, 21 times that of 2006. The actual utilized foreign capital amounted to 2.809 billion US dollars, a new high in the history.
Following the opening policy, the city took active measures to introduce good quality capital, famous enterprises and humane resources. By the end of last year, 35 enterprises of the World Top 500 set up 79 enterprises in Ningbo, and the totals 7.97 million US dollars.
In the past five years, the city further promoted the integration of Ningbo Port and Zhoushan Port sped up the construction of the key development zones including Ningbo Meishan Free Trade Zone and made great efforts to develop the economic circle of Hangzhou Bay Bridge, making best use of the advantageous conditions as a city opening to the outside world. In 2011, the total of exports reached 60 billion US dollars, ranking No.8 of the 36 provinces (cities directly under the Central Government), autonomous regions and cities independently listed in the national plan.
In the past 5 years, Ningbo has further integrated itself into the international economy. Statistics of the Ningbo Foreign Economic Cooperation Bureau show that in the last year, the investment Ningbo made in foreign countries is more than one third of the total Zhejiang made in foreign countries, occupying the first place in the 15 quasi-provincial cities in China. By the end of November 2011, Ningbo had opened 1,422 enterprises or agencies in foreign countries, including over 1,000 trade companies and offices.
