Ningbo's overseas investment rises steadily

Ningbo in East China's Zhejiang province has contracted projects and offered labor service in 91 countries and regions, generating $25.64 billion in aggregate turnover, latest data from the Ningbo municipal bureau of commerce show.

Since the 18th National Congress of the Communist Party of China, construction enterprises from the city have been expanding their market presence overseas by riding the wave of the Belt and Road Initiative. To date, they have established a presence in Southeast Asia, the Middle East, South America, Africa and other places.

In 2021, Ningbo registered 186 companies and institutions overseas that have a combined investment of $2.43 billion yuan, an increase of 85.92 percent over 2012. The turnover of the city's contracted projects and labor service overseas hit $1.88 billion yuan, rising by 51.86 percent compared with 2012.

For example, the solar power station projects funded by State-owned new energy company Risen Energy in Cambodia, Vietnam, Mexico and Australia achieved a turnover of $170 million in 2021.

A top official from the Ningbo municipal bureau of commerce said that the city will optimize policies and service systems for overseas investment to further strengthen international economic and trade links.