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.
Overview of Ningbo Daxie Development Zone
Ningbo Daxie Development Zone (NDDZ) is located at a T-shaped juncture of the Yangtze River golden watercourse and golden coastline of China, east of Ningbo, about 40 kilometers from the city center.
NDDZ borders a key international navigation route and has the Zhoushan Islands as its natural shelter.The zone boasts 10.7 kilometers of deep-water coastline, with a water depth reaching 20 to 30 meters at about 150 meters from the shore.Its area is ideal for warehousing and distribution, as well as various industrial projects.
NDDZ is connected to the national road network by Shanghai-Hangzhou-Ningbo Expressway and to the national railway network by Xiaoshan-Ningbo Double Track. Daxie is about 50 kilometers away from Ningbo Lishe Airport. It takes just over two hours by car to reach Shanghai across the Hangzhou Bay Cross-sea Bridge.
On March 5, 1993, China International Trust and Investment Corporation (CITIC) Group was approved by the State Council to undertake the overall development of Daxie Island and take advantage of the policies granted to state-level economic and technological development zones. The CITIC Daxie Development Company was established, and Daxie Development Zone Administrative Committee, was set up simultaneously to perform administrative functions on behalf of the Ningbo municipal government.
Founded in October 1979, CITIC Group is a state-owned enterprise. It has been developed into a large-scale multinational enterprise group with conducting numerous services, such as finance, information, investment, consultation, real estate, tourism and trade.
NDDZ is to be a port and export-oriented economic development zone with a well-developed tertiary industry, sound functions and elegant environment.
Facilities in NDDZ
NDDZ has invested more than 3 billion yuan ($449.55 million) to upgrade the infrastructure such as water supply, electricity, and road construction. Currently, the road networks and ample water and electricity supply are able to satisfy various requirements of all kinds of projects.
Water supply
Water for industrial and daily use is supplied via the Ningbo water supply system, with a daily capacity of 150,000 tons.
Electricity supply
With an installed capacity of more than 4.5 thousand kW, Ningbo has become a critical energy base in East China.At the DNNZ, electricity is supplied through the East China electricity supply system. At present, one 220kV and seven 110kV transformer substations with double-circuit electricity supply have been constructed. It is planned that by 2030, there will be three 200kV and ten 110kV transformer substations built there.
Steam supply
Located in Xiebei Petrochemical Industrial Park, Daxie Thermal Power Plant is installed with two 50,000kW double extraction condensing steam turbines, equipped with two circulating fluidized bed boilers, each with a capacity of 280 t/h. The steam supply capacity per hour reaches 400 tons of 10 barg and 40 barg.
Natural gas
The natural gas pipeline from East Sea Chunxiao Natural Gas Field has been built through the mainland side of Daxie Cross-sea Bridge, with an annual supply capacity of 2.5 billion cubic meters.
Sewage disposal
There are two sewage treatment plants at the DNNZ, with a daily sewage treatment capacity of 40,000 tons.
Communication
Various communication services are available, such as program-controlled telephones, WiFi networks, fiber access and broadband data exchanges.
Economic development of NDDZ
Daxie has been developed into one of three petrochemical industrial bases in Ningbo. Meanwhile, it is also a core port area of Ningbo port, and an important energy transit base in East China. So far, Daxie has invested 49.85 billion yuan ($7.47 billion) in fixed assets. In 2014, Daxie's total industrial output reached 54.15 billion yuan, and its fiscal revenue reached 11.15 billion yuan. Cargo throughput at Daxie Port reached 80.52 million tons, and container throughput reached 2.55 million containers. As of 2014, the population of Daxie is 47,000.
NDDZ has become a zone led by its port-based petrochemical industry. A number of Global Fortune 500 companies and leading enterprises, including CNOOC, Mitsubishi Chemical, Hanwha Chemical, Linde Industrial Gases, Hansen & Rosenthal and the Lewin Group, have invested in Daxie. A total of four industrial parks have been established on the site, namely the Wanhua Industrial Park, CNOOC Daxie Petrochemical Base, Mitsubishi Chemical Industrial Park and Xiebei New Material Industrial Park.
In 2014, the output of the port-based petrochemical industry reached 49.72 billion yuan in Daxie, accounting for 91.8 percent of the region's total output.
The port logistics industry, modern service industry and traditional manufacturing in Daxie have also undergone successful development. In 2011, Daxie passed an assessment by the World Health Organization (WHO), and was named an International Sanitary Port, the fifth in China and the first in Zhejiang. In 2014, revenue for the modern service industry reached 115.5 billion yuan.
To facilitate people who want to invest and set up business in Ningbo Daxie 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 Establishment of 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 Daxie Development Zone now.
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