Shanghai Volkswagen: the 35th World Top 500 company in Ningbo
- Details
- Category: Ningbo Business
- Published: Monday, 06 February 2012 09:57
The other day, a project of Ningbo Daxie Petrochemical Company of PetroChina was approved by the National Development and Reform Commission and the Ministry of Commerce. With the project, the gross investment of the company will be increased from 103 million US dollars to 394 million. It is reported that this project aims to promote the comprehensive distillate utilization project. With the project, the annual operating income is expected to reach 40 billion yuan with the annual tax reaching 10 billion yuan.
In the first month this year, Ningbo made great progress in investment invitation. According to statistics of Ningbo Foreign Economic Cooperation Bureau, in January, Ningbo accepted 22 foreign investment projects, with the investment totaling 1.279 billion US dollars. The contract foreign capital amounted 513 million US dollars and the actual utilized foreign capital 280 million US dollars, increased by 18% and 15% respectively against the same period of the previous year.
Ningbo is favored by a number of the World Top 500 companies. Early in January, Shanghai Volkswagen started its Ningbo project in Ningbo Hangzhou Bay New Area. It is the first international automobile project settled in Ningbo. So far, Ningbo has 35 World Top 500 companies including Wal-Mart, Mitsubish Chemistry and Dupont. These companies opened 79 enterprises in Ningbo, and the investment totals 7.97 billion US dollars
