Over 2000 overseas agencies approved
- Details
- Category: Ningbo Business
- Published: Tuesday, 07 October 2014 10:10
As soon as Zhongce Ningbo Industrial Park in Nigeria has just opened for business, Ningbo Hangxu Rotational Molding Technology Company and Ningbo Nature Switch Company signed contract with the park and settled there. Statistics from the Municipal Foreign Trade Bureau shows that by the end of September 2014, Ningbo has approved 2009 overseas enterprises and agencies and $7.03 billion investment by Chinese in 111 countries and regions.
Since the start of 2014, Ningbo enterprises have been speeding up their investment abroad. Kuwait, Cote d'Ivoire and Zambia have added to the investment destinations. In terms of investment region, Asia is still the major destination for direct foreign investment, with a $990,000,000 in the first three quarters, accounting for 67.8% of the total FDI, up 25.3% to the same period of last year. Cross-border mergers and acquisitions have become an important mode of foreign investment. In the first three quarters, 16 projects have been approved, increasing by 55.6%. The merger is worth $60,000,000, growing by 30%.
For the business types, Ningbo has approved 128 trade enterprises and manufacturers, with a total investment of $750,000,000. The investment of service sector is catching up. The investment of foreign-oriented service industries and R&D enterprises is worth $190,000,000 and $110,000,000 respectively, 7.9 times and 2.8 times as the same period.
