Ningbo Free Trade Zone

Ningbo Free Trade Zone (NFTZ for short), established in 1992, is one of the earliest free trade zones in China. It's also one of the special economic zones featuring the highest degree of opening up, most preferential policies, best functions and most active operational mechanism. In recent years, China decided to increase import and promote a balanced development of foreign trade. NFTZ is adjacent to the port and is a bonded area.

Moreover, there's a potential consumer demand in its surrounding areas. Therefore, it vigorously seized this strategic opportunity and started to build NFTZ Imported Commodity Trade Market.

In 2008, NFTZ Imported Commodity Trade Market started to import wine. After years of development, the value of import increased remarkably and the variety expanded to food and consumer goods. The market has imported over 3,000 kinds of commodities from 27 countries, including olive oil, dairy products, meat, fresh food, fruit, honey and daily necessities. There's an exhibition hall of 120,000 square meters and a professional food warehouse of 80,000 square meters. In the market, there’re more than 300 import companies. It is now the largest entity trade market for imported commodity in China.

In 2010, Ningbo Municipal Government started to build Ningbo International Trade Demonstration Zone, in order to make the city a center of international business. NFTZ is one of the strategic platforms. NFTZ and Ningbo Imported Commodity Exhibition & Trade Center (located at Ningbo International Exhibition & Conference Center) set up a joint mechanism and operation mode. It functions as an area for demonstration, warehousing, professional training and cultural exhibition. It aims at becoming a distinctive and influential center for the trade and distribution of international commodity.

To further improve its reputation and explore the sales channels, NFTZ established over 10 sales centers for imported commodity in Ninghai County (Ningbo City), Fuyang District (Hangzhou City), Wuhu City (Anhui Province), Nanchang (Jiangxi Province), etc. With Ningbo as the center, the sales network covers the Yangtze River Delta, even eastern and central China.

While making the entity market big and successful, NFTZ actively expanded its business to E-commerce. On April 22, 2013, its T-Mall flagship store formally went online. It was the first professional import market in T-Mall. In 2012, Ningbo was approved as one of the five pilot cities for cross-border E-commerce, and NFTZ was the experimental area for import business. On Nov. 27, 2013, it realized the trial operation. After that, the business soared and the sales value in the first year exceeded 300 million Yuan. This number ranked No.1 among all the experimental cities in China. On Nov.11, 2014, it joined China's "Nov.11" shopping festival and made 600,000 deals worth 110 million Yuan.

It has been 6 years since NFTZ Imported Commodity Trade Market was established. With the guidance of the local government and being market-oriented, it is now a very influential center both at home and abroad for the trade, distribution, information and price formation of imported commodity. It features a complete trade chain, an import industry cluster, smooth internal and external channels and an interactive online and offline business. NFTZ will continue to innovate and make it an imported consumer goods fair with convenient trade, diversified functions and specialized services.

An Italian-Chinese industrial park in Ningbo

A 502 million euro ($679 million) agreement between the city of Ningbo and several Italian companies to build an industrial park. Ningbo is a port city in East China’s Zhejiang province. The initiative will help both sides expand business ties with each other, government sources said. The money will be jointly invested by both sides in 10 cooperative projects in a 40-square-kilometer Ningbo-Italy industrial zone in Yuyao, a county-level city. High-end industries, such as renewable energy, waste treatment, life sciences, equipment and automobile manufacturing, will be developed in the zone, according to the deal.

Giancarlo Innocenzi Botti, head of Invitalia, which works on behalf of the Italian government to promote business development, said that as parts of Europe struggle to create new jobs, Italy has increasingly deployed resources outside the euro zone, especially in China, to fuel growth. “Ningbo’s comprehensive and reliable transport networks – in particular, its four surrounding airports and the port – make it an ideal destination for overseas investors,” Botti said. “Setting up companies in Ningbo is a useful way to export products to both Chinese and overseas markets through developed highways, railways and air cargo services, as well as the Ningbo-Zhoushan Port, the second-largest port in China.” Botti said building partnerships with Chinese companies is a practical way to gain access to the Chinese market. He added that Invitalia also welcomes enterprises from Ningbo to set up businesses in Italy to benefit from the tradition there of creative handiwork and highly specialized technologies. In the past five years, Invitalia also assisted more than 30 big Chinese companies, including ICBC and Huawei, to establish offices in Italy.

China-Italy trade totaled 33 billion euros in 2013, with about 9.9 billion euros’ worth coming from Italy and 23.1 billion from China, data from the Beijing-headquartered China-Italy Chamber of Commerce showed.
Eager to earn more from exports, Ningbo has moved toward a high-tech, low-carbon economy by reducing the scale of labor – and energy-intensive industries, while also encouraging the development of high-tech industries especially automotive, renewable energies, logistics and machinery sectors.

Brief Introduction To Ningbo-Wenzhou National Independent Innovation Demonstration Zone,Set Up Business,Company Registration,Corporate Formation In Ningbo-Wenzhou National Independent Innovation Demonstration Zone

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.

Ningbo and Wenzhou are two major cities more than 200 kilometers from each other in southeast Zhejiang province. In February 2018, the State Council approved the establishment of a national independent innovation demonstration zone in Ningbo High-tech Industrial Development Zone and Wenzhou High-tech Industrial Development Zone. 

The goal of the demonstration zone is to become a world-class new materials and intelligent manufacturing innovation center based in Ningbo, and a national-level life health and smart equipment innovation center taking Wenzhou as its core.

It aims to become a national private economy innovation and entrepreneurship incubator. By 2022, the research and development investment in the zone is expected to account for 5 percent of the total GDP of the two cities. 

Various research institutes in Ningbo such as the Ningbo Institute of Industrial Technology, CAS, help to bolster the new materials industry. While in Wenzhou, the construction of the State Key Laboratory of Optometry and Visual Science in Wenzhou Medical University and the rise of a large number of medical device companies have blazed a new trail in regional development.

Up to now, a series of innovation centers such as Ningbo Joint Academy of New Materials, Beihang University Ningbo Innovation Research Institute and the Life Science Innovation Center of Fudan University have been established. Several major technologies and strategic products have been developed. Implementation of projects such as the Beidou Industrial Base and the Digital Economy Industrial Center are under consideration.

To facilitate people who want to invest and set up business in Ningbo-Wenzhou National Independent Innovation Demonstration 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 )

-Representative Offices

-Joint Ventures (Equity/Co-operative)

-Foreign Invested Partnership Enterprises (FIPE)

-HongKong Holding Company.

Contact Tom Lee for business registration in  Ningbo-Wenzhou National Independent Innovation Demonstration Zone now.

Brief Introduction To Ningbo Hangzhou Bay New Zone,Incorporate Business,Company Registration,Corporate Formation In Ningbo Hangzhou Bay New Zone

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.

Ningbo Hangzhou Bay New Zone is located on the south bank of Hangzhou Bay in Ningbo, Zhejiang province. It was officially founded in 2010 and approved as a national level development zone by the State Council in 2014.

Ningbo Hangzhou Bay New Zone has a planned land area of 356 square kilometers and a resident population of nearly 230,000. The zone has attracted 488 industrial projects and enterprises, including Volkswagen, Bosche and Unilever. 

Emerging industries such as automotive and key components manufacturing, smart appliances manufacturing, new materials and new energy have gathered at the zone. 

Since the establishment of the new zone, its GDP, gross industrial output value, total social fixed asset investment, fiscal revenue and other major economic indicators have been increasing at high speed with annual average growth rates staying around 25 percent.

In 2017, the GDP of the zone reached 45 billion yuan ($6.66 billion) and the gross industrial output value was 157.03 billion yuan. It generated fiscal revenue of 13.36 billion yuan and attracted 49 projects with total investment of 46.96 billion yuan.

To facilitate people who want to invest and set up business in  Ningbo Hangzhou Bay New 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 )

-Representative Offices

-Joint Ventures (Equity/Co-operative)

-Foreign Invested Partnership Enterprises (FIPE)

-HongKong Holding Company.

Contact Tom Lee for business registration in  Ningbo Hangzhou Bay New Zone now.

Brief Introduction To Ningbo Cixi Export Processing Zone, Incorporate Business,Company Registration,Corporate Formation In Ningbo Cixi Export Processing Zone

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.

The Cixi Export Processing Zone (CEPZ) was established in June, 2005, with the approval from the State Council.

The administrative region where it is located--Cixi--has a unique location and industrial advantages. Lying in the center of the Golden Economic Shanghai-Hangzhou-Ningbo Triangle in the Yangtze River Delta, Cixi is close to the major cities in the area: 60 kilometers from Beilun Port, Ningbo to its east, 148 kilometers from Shanghai to its north and 138 kilometers from Hangzhou to its west.

Ever since the Hangzhou Bay Bridge went into operation in 2008, Cixi's integration with the Yangtze River Delta has been accelerating. Its location at the south end of the bridge has become more advantaged.

The solid foundation of Cixi's manufacturing and processing industries has made the city the world's largest production base of electric irons, plastic lighters, playing cards and health-care products. It is also the largest production base of curtain cloth in Asia and the largest production base of European style sockets, sealing members, miniature ball bearings, electronic copper strips, drinking water equipment and yarn feeders in China.

The manufacturing of small household appliances in Cixi has developed rapidly since the beginning of 2006. To date, the city has over 1,800 manufacturers of complete machines and almost 10,000 manufacturers of accessories. As a key region in the Hangzhou Bay Industrial Zone planned by Zhejiang province and the Ningbo government, Cixi is becoming a hot spot for the next round of foreign investment. In 2005, the disbursement of the foreign capital in Cixi ranked 4th in Zhejiang province.

CEPZ is located in the Cixi Economic Development Zone (CEDZ), which provides infrastructure for large-scale industrial projects. A high-grade road network, consisting of five latitudinal and seven longitudinal roads, has been built in CEDZ. Two transformer substations of 35,000 and 110,000 volts each, a thermal power station, and a sewage disposal plant have been put into operation. A combined police and fire station and a post and telecommunications office have been set up. Public transportation, sanitation services, gas storage and transportation facilities have all been put in place.

The major functions of the export processing zone can be summed up as follows: "the three focuses" (processing, the electromechanical industry and direct export of final products); attracting investment from transnational corporations; maximizing its advantages in strong industrial linkage; and promoting the transformation and upgrading of the processing trade while extending its industrial chain.

To facilitate people who want to invest and set up business in Ningbo Cixi Export Processing 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 )

-Representative Offices

-Joint Ventures (Equity/Co-operative)

-Foreign Invested Partnership Enterprises (FIPE)

-HongKong Holding Company.

Contact Tom Lee for business registration in Ningbo Cixi Export Processing Zone now.

Brief Introduction To Ningbo Economic and Technological Development Zone, Register Business,Company Registration,Corporate Formation In Ningbo Economic and Technological Development Zone

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 Economic and Technological Development Zone

Ningbo Economic and Technological Development Zone (NETDZ) was established in October 1984 with the approval of Chinese central government. NETDZ lies to the northeast of Ningbo, about 27 kilometers away from the city center. It covers a total area of 614 square kilometers behind the Beilun Port. And it is only 40 kilometers away from Ningbo Lishe Airport, 150 kilometers from Hangzhou Xiaoshan Airport, 230 kilometers from Shanghai Hongqiao Airport and 250 kilometers from Shanghai Pudong Airport.

NETDZ has established a very smart soft and hard investment environment, becoming one of the most attractive places for investment both at home and abroad.

Government services

The administrative committee of NETDZ is authorized with same power as provincial government in terms of foreign-funded project approval with investment up to 1.99 billion yuan ($300 million). It is fully responsible for investment, economic development and other social undertakings in the zone.

NETDZ provides a one-stop service from project consultation, site-surveying, agreement negotiation, contract signing, project approval and construction. Moreover, related government departments such as the investment service center, supervision office and complaint center have also been established in NETDZ to better cater investor needs. On top of that, the online approval system has given great convenience to investors.

State banks, commercial banks and foreign-funded banks are all available in NETDZ. Besides, commodity inspection bureau, notary houses, law firms, accountants, architectural planning & design institutes, transportation firms and insurance companies have all been established in the zone.

Infrastructure

Power Supply

Nine power plants with a total installed capacity of 10.41 million KW are on stream in NETDZ.

Water Supply

The daily water supply capacity is 410,000 tons with a cycled network.

Steam Supply

Five thermal power plants can ensure sufficient steam supply.

Industrial Gas

In the zone, Linde Gas, Messer Sunshine Gas Company as well as other professional providers can supply different kinds of quality industrial gas.

Fuel

The embarking point of East China Sea Chunxiao Gas & Oil Project is in NETDZ, which can provide sufficient natural gas. With the completion of CNOOC LNG project, six million tons of LNG will be provided annually. CNPC can also supply abundant LPG in the zone. In addition, suppliers within 20 kilometers include: Zhenhai Oil Refinery and Donghua LPG.

Sewage treatment

Two sewage treatment plants are available in the zone, with a number of sewage treatment stations and pumps. A complete sewage treatment system has been established with daily capacity of 180,000 tons 

NETDZ has developed itself into an advanced manufacturing base, with four pillar industries: port-based industry, high-tech and emerging industry, equipment manufacturing industry and modern service industry.

Industries such as steel, papermaking, traditional energy, molding, electric wire and cable, textiles and garment, stationery and food are also being improved.

By the end of 2012, NETDZ had approved 2,030 foreign-funded enterprises with a total investment of $32.18 billion (214.75 billion yuan) and contracted capital of $16.5 billion, among which 473 are large-sized projects with registered capital of more than $ 10 million each.

Over 30 Fortune 500 have invested in NETDZ with 67 projects in manufacturing and services.Investors in NETDZ come from 49 countries and regions. Total investment amounted to $32.18 billion by the end of 2012. 

Port-based industry

NETDZ has been an important petrochemical and steel manufacturing base in China, taking advantage of Beilun Port.Petrochemical industries are represented by Taiwan Formosa Plastics Group, Yisheng Petrochemical and Dow Chemical.Ningbo Steel with an annual capacity of four million tons of wide thick board, and Baoxin Stainless Steel with a million tonnage hot-roll and cold-roll output are the two dominating enterprises in the steel manufacturing industry.

Port-oriented industries also include energy enterprises like Beilun Power Plant, and ship-building and its components manufacturers like Samsung.

High-tech and emerging industry

Represented by the world's third-largest LCD panel manufacturer CMO and supported by over 50 enterprises such as Ling Mao optoelectronics, a relatively complete optoelectronics industry chain has been formed in NETDZ.

A new system of modern marine industry is to be created, including marine engineering equipment and new marine materials.Other developing high-tech and emerging strategic industries include Internet sensors, integrated circuits, high-end software and new energy.

Equipment manufacturing industry

With Geely Automobile as its flagship, the automobile industry in NETDZ has been integrated into the global competition system and the automobile industry base has formed matching famous automobile companies from home and abroad.

The plastic injection molding machine industrial base with complete supporting enterprises in NETDZ is known as the Capital of Plastic Injection Molding Machine in China.The mold manufacturing base in NETDZ has gained the name of Die-casting Mold Town in China.

Modern service industry

NETDZ is becoming a modernized international logistics center in Zhejiang and even in East China carrying a significant influence. The Trinity port service system including logistics, finance and information is to be vigorously developed.

NETDZ is going to be an important commodity storage and distribution center in East China and a strategic material reserves base in the Yangtze River Delta.

It is also focused on developing the outsourcing business of port-related logistics and information technology.NETDZ will also develop service outsourcing, film and television animation, e-commerce, software development, personnel training and other projects.

To facilitate people who want to invest and set up business in Ningbo Economic and Technological 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 )

-Representative Offices

-Joint Ventures (Equity/Co-operative)

-Foreign Invested Partnership Enterprises (FIPE)

-HongKong Holding Company.

Contact Tom Lee for business registration in Ningbo Economic and Technological Development Zone now.