Ningbo is a harbor city in Zhejiang province and one of China’s most prominent ports. The Ningbo-Zhoushan port is the fifth-largest in the world and the third-busiest in China after Shanghai, Shenzhen and Hong Kong. It is bound by the East China Sea and Zhoushan Archipelago in the east, by Hangzhou Bay in the north, by Shaoxing in the west, and by Taizhou in the south. In 2007, the Hangzhou bay bridge was built, connecting Ningbo with its neighbors. Ningbo has established intermodal rail services that connect it to 13 inland ports. It also has the largest specialized dock for storing liquefied chemical products in China.
Cixi Economic Development Zone (CEDZ) is 12 kilometers to the north of Cixi city, linked by the Hushan-Congshou highway and the regional ring road. Four longitudinal highways (Lucheng-Andong highway, Hushan-Congshou highway, East Outer Ring, and Zhangshu-Xingpu highway) and three latitudinal highways (329 State Road, Zhongheng highway and Hangzhou Bay Bridge passage) are all located inside CEDZ's outer ring traffic network.
Aimed at building "A Famous City for Industry and Commerce in the Southern Flank of Yangtze River Delta", "An Economic Center in Northern Part of Ningbo", and "An Eco-travel Industry City", CEDZ has an allocated general planning area of 120 square kilometers.
CEDZ can be divided into three different functional sections horizontally.
The 40-sq-km east section is the economic, cultural and administrative center, offering commercial activities, living, leisure facilities and services.
The 60-sq-km middle section is designed for industrial development.
The 20-sq-km west section is allocated to develop high-level resort villas, hotels, a golf course, a wetland park and other leisure facilities.
Traffic network
Aviation: At present, it is 70 km from Hangzhou International Airport and equidistant from Ningbo Lishe Airport. After the Hangzhou Bay Bridge opened in 2008, it is only 168 km from Shanghai Pudong International Airport.
Port: It is 70 km from CEDZ to Ningbo Port, which links with 553 ports in more than 88 countries and districts worldwide, with regular container liners heading for Hong Kong, Taiwan, Japan, the Persian Gulf, Europe, North America, Singapore and Australia.
Railway: The Shushan Cargo Railway Station links Cixi with the national railway network, and handles cargo transportation between Cixi and other cities in China.
Highway: The CEDZ is 12 km to the north of Cixi city linked by the Hushan-Congshou highway and the regional ring road. Four longitudinal highways and three latitudinal highways are located inside CEDZ's outer ring traffic network.
Industrial system
Cixi has cemented its industrial structure focused on the following major products: electrical equipment and domestic appliances, bearings, precision machinery, knitting, textiles and garment manufacture, plastic products, food processing, and chemical fibers. Export-oriented economies are developing rapidly.
Cixi is often referred to as the best city for comprehensive industrial R&D and cooperation in China, with investors from both from home and abroad easily finding business partners in the city.
To facilitate people who want to invest and set up business in Ningbo Cixi Economic Development Zone,here is an introduction of Types of business presence in China:
Before starting up a business in China, you have to know what are the options. Foreign Investors generally establish a business presence in China in one of five modes: Wholly Foreign Owned Enterprise (WFOE); Representative Office; Foreign Invested Partnership Enterprises (FIPE); Joint Venture and Hong Kong Holding Company.
Wholly Foreign Owned Enterprise (WFOE) is a Limited liability company wholly owned by the foreign investor. WFOE requires no registered capital and it's liability of equity , can generate income, pay tax in China and it's profit could be repatriate back to investor's home country. Any enterprise in China which is 100 percent owned by a foreign company or companies can be called as WFOE.
Representative Office(RO) is a Liaison Office of it's parent company. It requires no registered capital. It's activities would be: product or service promotion, market research of it's parent company's business, Quality Control liaison office etc in China. RO generally is prohibited to generate any revenue nor generating contracts with local businesses in China.
Joint Venture (JV) is a Limited liability company formed between Chinese investor and Foreign investor. The parties agree to create a entity by both contributing equity, and they then share in the revenues, expenses, and control of the enterprise. JV usually been used by foreign investor to engage the so called restricted in areas such like: Education, Mining, Hospital etc.
Since March 1, 2010: Measures of Establishmentof Foreign Invested Partnership Enterprises (FIPE) in China is taking effect. The regulation, which take effect since March 1, 2010, are known as the Administrative Measures for the Establishment of Partnership Enterprise in China by Foreign Enterprises or Individuals. There's no required minimum registered capital for a Foreign Invested Partnership Enterprise (FIPE) in Ningbo , Beijing, Ningbo , Shenzhen, Hangzhou and rest cities of China
Hong Kong Company usually been used as a Special Purpose vehicle (SPV) to invest Mainland China. Hong Kong is one of the quickest locations to Incorporate a business. Although a HK company is not a legal entity in Mainland China (Mainland China and Hong Kong, See Wiki 1 country, 2 systems), lots foreign investors, especially investors from Europe and North America still chose to setting up a Hong Kong company as SPV to invest China.
After China's entry to WTO, most industries in China welcome foreign investment, WFOE setting up in China becomes the first option of foreign investment's entity structures instead of Rep.Office setting up in China. At the mean time, for tax purpose, effective licensing system etc more and more investors use Hong Kong as the holding company to invest China mainland, using this offshore company to hold their operations in China.
Business set-up in Ningbo is a big project by itself, which requires financial and time commitments, business management knowledge and China expertise. Identifying a competent agent to manage the complex process will be a cost and time effective way to avoid potential pitfalls . Tommy China Business Consulting has direct connections in the local government
Since 2006, TCBC has been focusing on consulting services for our clients to invest in Ningbo China. We are specialized in establishment of wholly foreign owned enterprises (WFOEs), setting up of offshore companies, trading services, tax minimization, Assist in obtaining government approvals and certificates for running business,negotiate and draft various legal documents provide legal advice, negotiate government officer for Land acquisition. Advising on formation of WOFE and business structures, managing and controlling WOFE in Ningbo China, drafting privacy policies and structuring commercial transactions
TCBC will manage all aspects of incorporation to get you a business license in Ningbo China. We offer a range of company formation services including helping you to set up:
-Wholly Foreign Owned Enterprises (WFOE )
-Joint Ventures (Equity/Co-operative)
-Foreign Invested Partnership Enterprises (FIPE)
Contact Tom Lee for business registration in Ningbo Cixi Economic Development Zone now.
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