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Over 30 "Fortune 500" enterprises investing in Ningbo

It is learned from Ningbo Foreign Trade & Economic Cooperation Bureau that delegations of such "Fortune 500" enterprises as Pfizer (the United States), Phillips (Netherland) and Tesco (the United Kingdom) will participate in the 14th Zhejiang China International Fair to be held from Friday this week. It is expected that a number of projects will be signed in the fair

This year's fair, themed as "implementing three strategies, deepening international industrial cooperation and promoting economic transformation and upgrading", is to bring about a lot of business to Ningbo. During the session, over 30 "Fortune 500" enterprises and some emerging industrial capital from home and abroad including the Senior Health Foundation of the United States and Honghai Group of Hong Kong, will have the docking talks with local strategic emerging industries and private companies. The international investors will carry with them projects and capitals to invest in such fields as new marine energy, new materials, energy saving and environmental protection, modern Internet of Things and cultural and creative industry.

Industrial clusters and development gardens have become the main areas for inviting investment. During the fair, the inorganic pigments project invested by LANXESS, the leading enterprise in the industry, and the polystyrene project by the TOTAL Group of France will be signed and settle down in Ningbo Petrochemical Economic & Technological Development Zone. In the Hangzhou Bay New Zone, the investment in two major projects by Bosch Group, the second largest automotive equipment supplier in the world, will reach $150 million. Besides, the opening ceremony of the Ningbo base supplier park for Shanghai Volkswagen Group will be held in the new zone.

Since the beginning of this year, as is affected by the internal and external elements, Ningbo has been confronted with a serious situation for inviting foreign investment. In the first four months, 114 foreign-invested projects were approved with a total investment of $3.064 billion. The contractual investment was $1.468 billion and the actually used foreign capital was $970 million, up by 1.7% and 6.9% respectively over the same period last year. The investment from some development countries such as Japan and South Korea dropped dramatically.

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