Ningbo retains its appeal for foreign investment

Ningbo, located in East China's Zhejiang province, has successfully maintained its strong appeal for foreign investment despite the complexities of the international political and economic landscape this year, according to local authorities.

Between January and November, the city attracted a total of $4.37 billion in actual foreign investment, showing a significant increase of 19.1 percent compared to the previous year. This growth rate surpassed both the national and provincial averages by 34.8 and 15.2 percentage points, respectively. Wang Ke, deputy director of the Ningbo Municipal Bureau of Investment Promotion, shared these figures in a recent interview, highlighting the city's remarkable success.

The success of Ningbo's foreign investment goes beyond mere numbers, as the quality and structure of the investments have continuously improved. During the 11-month period, the city's manufacturing sector attracted $1.7 billion in actual foreign investment, experiencing its first rebound in five years with a year-on-year growth of 130 percent. The high-tech industry also thrived, attracting $1.66 billion in actual foreign investment, representing a 57.6 percent increase compared to the corresponding period in the previous year.

To further enhance the business environment and optimize foreign investment utilization, the local government organized a series of activities. Among these initiatives was a three-month campaign aimed at improving services for foreign-invested enterprises, yielding fruitful outcomes.

From September to November, the investment promotion departments at the municipal and district levels visited 350 foreign-funded enterprises, effectively addressing 75 issues related to employment, transportation logistics, and education for employees' children. Additionally, ongoing support was provided to 52 foreign-funded projects.

Simultaneously, the local government has made efforts to encourage capital expansion and production increases among foreign-funded enterprises. The city visited 120 enterprises, promoting the latest policies aimed at attracting investment. As a result, they successfully facilitated 10 projects involving capital expansion and increased production.

The city's proactive measures and effective policies have played a significant role in attracting foreign investment, further solidifying its position as a prominent destination for international businesses.