CP Group expands business presence in Ningbo

An industrial park invested by Charoen Pokphand Group in Ningbo. [Photo/WeChat account: nbfb0574]

An intelligent agricultural research institute funded by Charoen Pokphand Group (CP Group) was inaugurated in Ningbo's Cixi city on Dec 5.

It is the 35th business entity invested by the Thailand-headquartered multinational conglomerate in Ningbo.

The total amount invested by CP group in the city has exceeded 15 billion yuan ($2.3 billion) over the past 30 years, and the number of business entities invested by the company is increasing by three to five annually, according to Michael Ross, vice chairman of CP Group.

In 1991, CP Group established a business presence in Ningbo by setting up a grain and oil processing plant in Beilun district with an investment of $100 million.

Looking back, Ross said that Ningbo was among their preferred investment destinations at that time due to its ports, congenial business climate and strong market prospects brought about by its strategic location in the Yangtze River Delta.

The choice gave the company a leg up in developing in China, he added.

Now, CP Group's business presence has expanded to multiple sectors in Ningbo ranging from grain and oil processing, livestock and poultry breeding to equipment manufacturing and food research and development.