9 companies listed among top 50 Zhejiang private multinationals

An overseas warehouse of Loctek, a Ningbo-based ergonomic solution products manufacturer.[Photo/WeChat account:nbfb0574]

Nine companies from Ningbo recently made the 2021 list of top 50 private multinationals in Zhejiang province.

Among the nine companies, three companies - Ningbo Joyson Electronic Corporation, Loctek Ergonomic Technology Corporation and Risen Energy Co Ltd - were listed among the top 10, ranking seventh, eighth and tenth respectively.

The ranking was determined based on an evaluation of factors such as overseas assets and foreign trade volume.

Multinationals from Zhejiang have been playing a pivotal role in bolstering in the Belt and Road Initiative and the "dual-circulation" strategy, said a head official from the Zhejiang provincial department of commerce.

The nine listed companies from Ningbo are primarily involved in sectors including automobile manufacturing, textile and clothing, resource development and equipment manufacturing.

Through diversified overseas investment, these "bellwethers" in transnational operations have also contributed greatly to local economic development, said an official from the Ningbo municipal bureau of commerce.