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The Utilization of Foreign Capital Continues to Be Promising in the First Half of 2017
Updated:2017-07-13 18:18:34

According to the Municipal Commerce Commission, in the first 6 months this year, the number of new foreign investment projects (recorded) has reached 236 with a total investment of 3.278 billion dollars, with 2.163 billion dollars already utilized. In addition, the foreign investment utilized has reached 54.1% of the annual goal, exceeding the goal for the first half of the year.

As the world economy is going through an in-depth adjustment, the competition for the global top 500 companies’ investment has become increasingly fierce. Confident about the return of project investment in Ningbo, two green energy giants started their business in Ningbo in the first half of 2017. After France ENGIE Group, one of the global top 500 companies, had bought 25% shares of the Zhejiang Liansheng New Energy Group by 350 million yuan, Germany Linda Group, another global top 500 company set up a joint venture named Ningbo Zhenhai Linde Gas Co. Ltd. with a total investment of 800 million yuan in cooperation with China Petroleum Chemical Co. Ltd. And the annual sales volume of the joint venture is expected to be 900 million yuan after it was in full operation with the annual tax revenue expected to exceed 50 million yuan.

In addition to the smooth completion of the task, the investment from foreign sources remained stable in general. In the first half year, the total amount of foreign capital used by the top ten foreign countries and regions was 2.108 billion dollars, accounting for 97.5% of the total in Ningbo. And the growth of actual investment in some regions was remarkable, Japanese and German investment utilized has increased 29.4% and 225.4% compared to the same period last year.

Up to now, 54 overseas global top 500 companies have invested 15.116 billion dollars in total in 123 enterprises (branches) in China with 6.48 billion dollars utilized in accordance with agreements.
Source from Ningbo Gov. Website


 

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