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Ningbo attracts investment from centrally administered SOEs

Updated:2019-12-13 (chinadaily.com.cn)

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Ningbo seals a total of 14 investment deals with a combined value of 40.54 billion yuan at a conference held in Beijing on Dec 12. [Photo/cnnb.com.cn]

Ningbo sealed a total of 14 investment deals with a combined value of 40.54 billion yuan ($6.05 billion) at a conference held in Beijing on Dec 12.

The investments were primarily from centrally-administered State-owned enterprises and covered sectors such as marine engineering, intelligent manufacturing, semiconductors, new materials, petrochemicals, aerospace, and shipping logistics.

The conference gathered more than 140 business leaders, including influential figures such as Fu Yuning, president of China Resources Group Co Ltd, Chen Fenjian, president of China Railway Construction Co Ltd, and Wang Shudong, vice president of State Power Investment Co Ltd.

Zheng Shanjie, Party chief of Ningbo, addressed the conference and briefed attendees on Ningbo's social and economic development.

Ningbo is an economic and transportation hub situated in the south of the Yangtze River Delta and plays a crucial role in the Belt and Road Initiative, Zheng said, adding that city has made strenuous efforts to expand its real economy, foster new growth drivers and optimize business climate.

The city aspires to establish partnerships with centrally-administered SOEs, which are large in scale and strong in innovation, he continued.

The Party chief also pledged that more efforts will be made to foster a congenial business climate.

"Choosing Ningbo is choosing the future," he concluded.