- Language: English
- 754 Pages
- Published: November 2012
- Region: World
Ningbo Economic and Technological Development Zone
- Published: June 2011
- 25 pages
- China Knowledge Press
Ningbo Economic and Technological Development Zone (Ningbo ETDZ) rated “AA” by China Knowledge in a research report published today. The industrial park, is one of China’s oldest and largest state-level development zones, was approved by the State Council in 1984. It covers an area of 29.6 sq km.
Ningbo Free Trade Zone, Ningbo Export Processing Zone and Ningbo Bonded Logistic Zone are located in Ningbo ETDZ, and Ningbo Daxie Development Zone is located nearby.
In 2009, GDP of Ningbo ETDZ surpassed RMB 37.6 billion, increasing by 6.46% from the previous year. Its GDP made up 8.9% of Ningbo’s total. In 2009, value-added industrial output of the park rose 5.09% to RMB 23.8 billion.
The zone emphasizes high-tech industries such as modern papermaking and electric machinery, as well as traditional industries such as chemicals, stainless steel manufacturing, shipbuilding and textiles. It also focuses on the development of the automobile industry.
Geely Auto, which is based in Hangzhou, was set up in 1986 and started producing sedans in 1997. In 2009, it sold 325,413 units, up 59% year on year. In 1999, Geely launched Zhejiang Geely Auto Co Ltd (formerly Ningbo Merrie Automobile) in Ningbo ETDZ, which became one of Geely’s six manufacturing bases on the mainland. Its production capacity hit 10,000 units in Jan, 2008.
By the end of 2009, more than 1,500 foreign-funded enterprises have been established in this zone, with contracted foreign investment accumulating to US$11 billion. In 2009 alone, the zone’s utilized FDI amounted to US$571 million. Large companies including Exxon-mobile, Samsonite, Dow Chemical, DuPont and BP have already set up business in the zone. The export value fell 11.02% to US$4.68 billion in 2009.
The latest figures show that in the first half of 2010, value-added industrial output of Ningbo ETDZ amounted to RMB 20.11 billion, up 36.34% year on year. The utilized FDI fell 16.75% to US$436.42 million (from Jan to Sep 2010), while the export value rose 39.78% to US$4.2 billion.
Industrial parks rated AA are highly attractive and are highly recommended. However, in comparison with industrial parks given the AAA rating, these industrial parks still lag behind in some areas. The most typical disadvantage is the smaller economic size as reflected in the GDP or FDI, high investment costs and limited land resources. Together with AAA-rated industrial parks, these industrial parks are considered first-tier. There are 24 with “AA” rating among 254 national or municipal level industrial parks rated by China Knowledge since 2003.
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Exxon-mobile, Samsonite, Dow Chemical, DuPont and BP
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