EeBay Partners With Ningbo To Increase Business In China

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ECOMMERCE

eBay Partners With Ningbo To Increase Business In China

ByPYMNTS

Posted on February 24, 2017

EBay is stepping back into business in China with an arrangement with the port city of Ningbo, according to Internet Retailer. The company recently announced a partnership with the major port and manufacturing hub.

Ningbo’s eCommerce pilot zone is one of more than a dozen established by the Chinese government. Companies operating in these areas get various benefits, including expedited imports, tax breaks and, more importantly, the chance to set up bonded warehouses to store imported goods — reducing shipping times by as much as 80 percent.

This is eBay’s first major move in the country since its disastrous run from the Chinese auction business a decade ago in the face of growing local competition. The experience was such a cautionary tale that it even became a business school case study.

This time around, however, eBay seems to be in the forefront of this important trend in online trade. In 2016, Chinese shoppers made $86 billion in online purchases from vendors in other countries, mainly because they are looking for safer alternatives overseas to the products offered at home. In addition, many Chinese shoppers are now seeking “the best and most expensive product” when they shop. Last year, those shoppers purchased $5 billion worth of goods, such as cosmetics and clothing online from South Korea alone.

Of course, there are also shoppers outside of China who are looking for a bargain deal, and eBay has built its business on consumers looking for products at the best price. With the Ningbo partnership, eBay is hoping to improve this process by training local workers to help manufacturers meet the demands of overseas customers, giving the chance for global consumers to purchase Chinese goods at a discount with ease.

Ningbo deepens cooperation with French city

Ningbo and the French city of Nice reach an agreement on the introduction of Nice Carnival on March 1. [Photo by Zhang Qiaonan/ Nouvelles d'Europe]

Ningbo in East China's Zhejiang province signed an agreement on the introduction of Nice Carnival with Nice, a large city on the French Riviera on March 1.

The agreement guaranteed that Nice Carnival, one of the world's major carnival events, will be held in Ningbo this autumn. Artistic performances, colorful parades and concerts with French characteristics will be staged for the Chinese audience.

Meanwhile, March 3 has been chosen as "Ningbo Day" at the carnival by the mayor's office in Nice.

Around the event, the two cities are going to conduct extensive and in-depth exchanges and cooperation on culture and tourism.

The Mayor of Nice Christian Estrosi said Ningbo and Nice share a lot of resemblances including the affluent port resources and active roles in China's Belt and Road Initiative, laying a good foundation for the bilateral relations.

Wan Yawei, head of Ningbo's publicity department attended the signing ceremony and delivered a speech. He said though the two cities have different cultures, religious beliefs and customs, they have something in common that is worth seeking.

Wan told Zhang Qiaonan, a reporter from the local Chinese-language newspaper Nouvelles d'Europe, that the Nice Carnival will be an important platform for the expansion of China-Europe ties.

He said Ningbo will sign a framework agreement with Nice. The introduction of the carnival is considered as a positive impetus to the collaboration between China and Europe, not only in the fields of culture and tourism, but also in economy, trade and education, according to Wan.

Ningbo held a promotion conference for its tourist resources on that day. Estrosi addressed the event, saying he hopes the local residents would get a better understanding of Ningbo and China. The year of 2018 is the China-EU Tourism Year and Nice is looking forward to more exchanges with Ningbo, the mayor said.

The wedding custom "Ten-mile Red Dowry" from Ningbo joins the parade of this year's Nice Carnival on March 3, displaying the most traditional wedding culture in France. [Photo by Pan Xuguang]

The most traditional wedding culture from Ningbo is displayed in Nice, France on March 3. [Photo by Pan Xuguang]

Foreign experts generate $15.7 million for Ningbo firm within a decade

In the past decade, foreign experts have generated more than 100 million yuan ($15.7 million) for Ningbo Haibo Group, a high-tech R&D and mass production enterprise, said He Shaojie, president of the Group, to local media.

Propellers for electric ships, developed by Haibo's British-led R&D team, have raised the maximum efficiency of electric motors from 70 percent to 90 percent, and each of their indicators has reached world class levels.

The products have been widely used in Zhejiang province's water treatment efforts and revenue is projected to exceed 20 million yuan in 2018, according to He.

As early as 2008, Haibo noticed the enormous market for smart home products.

Guided by a former chief technology officer of Japanese telecommunications operator KDDI Corporation, Haibo's smart home products stand out from those of their competitors, and sales are increasing year by year.

In 2007, Zhejiang University, one of China's oldest, most selective and most prestigious higher education institutions, signed a cooperation agreement with Haibo.

According to the agreement, Zhejiang University students would serve as Haibo's partners when they studied for a doctorate overseas, which would increase exchanges between the group and overseas industrial experts.

Haibo tasked these student partners with persuading overseas experts to cooperate with the group, and as of today, more than 10 foreign experts have worked for Haibo.

Having seen the benefits of cooperating with foreign experts, Haibo plans to establish overseas research centers to seek needed industrial experts, and will also help these experts better understand the group's development model.

He Shaojie, president of Ningbo Haibo Group. [Photo provided to chinadaily.com]

In the past decade, foreign experts have generated more than 100 million yuan ($15.7 million) for Ningbo Haibo Group. [Photo provided to chinadaily.com]

Ningbo and Nottingham seek more cooperation in cultural creativity

A booth called "Creative Nottingham" displays cultural cases from British companies during the 2018 China (Ningbo) Cultural Industrial Fair from April 13 to 16 in Ningbo, Zhejiang province. [Photo/chinadaily.com.cn]

Ningbo's rapidly growing cultural and creative industries have been attracting more and more exchanges and cooperation with companies from its British sister city, Nottingham.

This year, during the 2018 China (Ningbo) Cultural Industrial Fair (NBCIF) from April 13 to 16, a delegation of cultural and creative companies from Nottingham demonstrated their expertise and successes in film, TV, and other cultural sectors to Chinese people.

These companies are not just from Nottingham, but also from areas around the city, according to Robert Dixon, head of Business Growth and International Strategy, Nottingham City Council.

"15 representatives from a number of different businesses involved in film production, video games and art services attended the fair," Dixon explained.

The UK was the first country in the world to put forward the idea of developing creative industries and also the first to implement public policies facilitating their development. Today, creative fields make up the second largest sector in the UK, the largest being financial services.

Ningbo in East China's Zhejiang province has been rapidly developing its cultural and creative industries in recent years. In 2017, the total value added of the city's creative sector reached 71.67 billion yuan ($11.41 billion), accounting for 7.27 percent of its total GDP, said Lin Daji, deputy director of the Publicity Department of the CPC Ningbo Municipal Committee, at the Ningbo-Nottingham Cultural and Creative Industries Forum on April 13.

In his speech, Lin called on all parties to work together to expedite the cultural development of Ningbo and Nottingham.

"Nottingham and the UK are strong in design and creativity, while China has different cultural strengths," said the official, who is quite optimistic about the two cities' cultural ties.

In terms of what he thinks have the most potential for cooperation in the future, Dixon said technology, digital design and mobile phones are worth exploring.

Darren Barker, a member of the British delegation, is the founder of Barker Langham, a London-based cultural consulting firm specializing in the conceiving, strategic planning and development of cultural heritage projects in Europe, the Middle East, Africa, Asia and the Americas.

This marks the first time Barker has come to China, and he chose Ningbo as the entrance point into the Chinese market.

"Ningbo's cultural and creative industries are emerging and I hope to have conversations with people here and see whether people would like to work with us," said Barker. In his view, there's a connection between the UK and Ningbo, and he believes he's starting in the right place.

Lin Daji, deputy director of the Publicity Department of the CPC Ningbo Municipal Committee, delivers a speech at the Ningbo-Nottingham Cultural and Creative Industries Forum in Ningbo, Zhejiang province on April 13. [Photo/chinadaily.com.cn]

Ningbo and Nottingham became sister cities in 2005. The University of Nottingham Ningbo China, founded a year earlier, is a joint venture between China and the UK and also serves as a bridge between Ningbo and Nottingham.

Robert Dixon, head of Business Growth and International Strategy, Nottingham City Council, is interviewed at the Ningbo-Nottingham Cultural and Creative Industries Forum in Ningbo, Zhejiang province on April 13. [Photo/chinadaily.com.cn]

The two cities have conducted exchanges and cooperation activities in a wide range of fields over the past decade, including education, trade, investment and culture. In 2011, nine museums in both cities jointly set up an international alliance and in 2017 and 2018, art troupes from Ningbo performed in front of Nottingham audiences during the Chinese New Year.

Dixon believes that the person-to-person relationship is the most important for sustainable and comprehensive relations, "We come to Ningbo and meet businesses, organizations and the government here, while the Ningbo government sends people to serve on the Nottingham City Council for a period of time, which I think is a powerful way of demonstrating the link between the two cities. The personal links are probably what make the most sense."

Ningbo releases plan for construction of 16+1 cooperation demonstration zone

Ningbo in East China's Zhejiang province recently released a plan for the construction of a demonstration zone for economic and trade cooperation within the 16+1 cooperation framework.

The 16+1 cooperation system, aimed at strengthening ties between China and 16 Central and Eastern European Countries (CEEC) in areas such as trade and investment, is one of the most significant cross-regional cooperation systems in the world.

Chinese Premier Li Keqiang proposed the establishment of a demonstration zone for economic and trade cooperation in Ningbo during his address at the 7th China and Central and Eastern European Countries Economic and Trade Forum in Budapest, Hungary on Nov 27, 2017. It will be the first demonstration zone for 16+1 cooperation and marks a new beginning for Ningbo-CEEC ties.

The newly released plan is a guiding document that takes into account the central government's instructions and Ningbo's current situation. It lays out a "3362" framework, representing three first choices, three platforms, six demonstration projects and 20 key tasks.

According to the plan, Ningbo is striving to be the most attractive destination in China for CEE countries in terms of trade, investment and cultural exchanges. In the next three years, the city will also put stress on the development of three exchange platforms – China-CEEC Investment and Trade Expo, China-CEEC Inspection and Quarantine Pilot Zone of Trade Facilitation, and the Sofia China Cultural Center in Bulgaria.

In addition, the plan states the importance of developing six demonstration projects concerning trade facilitation, investment cooperation, institutional collaboration, connectivity, public services and cultural exchanges.

The 20 key tasks proposed in the plan include strengthening cooperation in cross-border e-commerce, creating a distribution system for CEEC goods, establishing an introduction and cultivation system for large importers, and exploring more cooperation in emerging fields.

In 2017, the total value of Ningbo's imports from the 16 CEE countries was 2.54 billion yuan ($402.3 million), up 78.4 percent year-on-year. The value of exports exceeded 17.25 billion yuan, an increase of 21.6 percent over the same period last year.

The plan also sets some numeric goals for the next three years. By 2020, the value of imports and exports between Ningbo and CEE countries is expected to hit $4.5 billion, accounting for 5 percent of China's total import/export value. In terms of people-to-people exchanges, there will be over 500 exchange students and 10,000 tourists moving between the countries.

People from many different countries and regions come to Ningbo for the 3rd China-CEEC Investment and Trade Expo in June of 2017. [Photo provided to chinadaily.com.cn]

European projects promote themselves in Ningbo

Representatives from European enterprises promote their high-tech projects in Zhenhai district, Ningbo, May 25. [Photo/zjol.com.cn]

Representatives from a group of innovative projects from Europe teamed up to seek cooperation opportunities in Zhenhai district, Ningbo, May 25.

Through general roadshows and in-depth discussions, these European projects from the fields of intelligent manufacturing, the internet of things and new materials gained a better understanding of Ningbo's favorable climate for innovation and entrepreneurship. Some established cooperative ties with Ningbo companies.

The Ningbo TusPark and the HighTechXL Accelerator from the Netherlands reached a strategic cooperation agreement that day. According to the agreement, the Dutch company will set up an innovation center in Ningbo TusPark and cooperate with Ningbo to improve incubation services for high-tech projects.

"An increasing number of Dutch companies are aware of the great Chinese market and huge space for Sino-Dutch cooperation," said Luuk Eliens, director of HighTech XL Accelerator China.

The district of Zhenhai, known for its prosperous industrial development, is now working hard to attract overseas professionals to start businesses here, according to an official from the district government.

An innovation center is jointly established by the Ningbo TusPark and HighTechXL Accelerator in Ningbo, May 25. [Photo/zjol.com.cn]

Uni of Nottingham Ningbo makes provincial key lab list

Christopher Gerada, leader of the More-Electric-Aircraft (MEA) Technology Lab at the University of Nottingham Ningbo China. [Photo/ zj.zjol.com] 

The More-Electric-Aircraft (MEA) Technology Lab at the University of Nottingham Ningbo China was recently selected as one of the 2019 Zhejiang Provincial Key Labs, a clear indication of the school's scientific research credentials. 

The lab is led by Christopher Gerada, one of the youngest lecturers at the Royal Academy of Engineering and a leading figure in the field of electric drive systems. Multiple well-known international companies such as General Electric and Emerson have invited him to work for them as a consultant. 

The University of Nottingham has long been famous for its research in the MEA electric drive system, and is the R&D center in the field in Europe and the world at large. 

Supported by the university's disciplinary advantages and international resources, Gerada and his team have made remarkable progress in the aeronautic field. 

They have been selected as one of the top innovative teams in Zhejiang province, and have obtained five projects under the support of the National Natural Science Foundation of China.

In addition, they have nurtured a group of outstanding researchers for the society, with the Nottingham (Yuyao) Electrification Research Institute established in Yuyao, Ningbo, in late 2017, for developing high-performance electric drive systems. 

Gerada and his team, as well as the research institute, will be devoted to incubating companies and putting technological achievements into production, to drive the electrification progress of the city's and the nation's aviation industry.

In the future, the lab will continue its R&D in high-performance electric motors and other related key technologies, to share its technology achievements, solutions and development advice with the energy and transportation industries.

Sino-Ukraine new material research institute to settle in Ningbo

The signing ceremony of a Sino-Ukraine technology research institute on the new material industry is held in Zhenhai district, Ningbo, on Oct 31. [Photo/ zj.zjol.com]

A Sino-Ukraine technology research institute focusing on the new material industry will settle in Zhenhai district, Ningbo, according to an agreement inked among the Zhenhai authorities, Ningbo University of Technology and National Academy of Sciences of Ukraine (NASU) on Oct 31.

The move marked a big breakthrough in the cooperation between Ningbo and Ukraine after an agreement signed between the city government and NASU in 2016 for strengthening cooperation in talent attraction and technology development.

The institute will be located at the Zhongguan Road Entrepreneurship and Innovation Street in the district, and is expected to include one production-training integration center and seven applied engineering research centers upon construction, which is expected to be finished within three to five years. 

Meanwhile, five to six Ukrainian academicians and ten innovation teams led by high-profile professionals will be introduced to help cultivate 50 innovative start-ups in the new material sector.

It is hoped that the institute will be a pilot zone in the district for new material R&D and application by 2030, as well as a hub for high-profile professionals and technology innovation. 

Yurii Sementsov, a senior researcher from NASU, signed an agreement at the meeting that day to work full-time in Zhenhai, being the first foreign academician settling in the district. 

"The industrial base of Zhenhai fits our research quite well, and I'm looking forward to embarking on our journey of innovation in the district," said Sementsov. 

Zhenhai district, though taking up only 2.5 percent of the city's land area, boasts advantageous platforms for innovation and strong service support for companies settled there.

Representatives of the Zhenhai authorities, Ningbo University of Technology and National Academy of Sciences of Ukraine (NASU) sign the agreement to jointly build the institute in Zhenhai district, Ningbo. [Photo/ zj.zjol.com]

Company representatives from 17 countries visit Ningbo

A delegation of company representatives from 17 countries visits Ningbo on Nov 4. [Photo/ nbtv.cn]

A group of company representatives led by the International Trade Center (ITC) of the United Nations visited Ningbo on Nov 4, before making their way to the first China International Import Expo (CIIE) opened on Nov 5 in Shanghai. 

The representatives came from 17 countries involved in the Belt and Road Initiative, including Africa, Latin America and Southeast Asia. 

"Most of them have had trade contacts with Chinese companies, with exports to China ranging from farm produce, food, daily consumer goods, and tourist and educational services," said an official from ICT.

"They want to do cross-border trade by using the internet platform, and Ningbo is their first choice to partner with, judging from the port throughput, cross-border e-commerce capacity and supporting facilities, as well as the manufacturing strength of the city," added the official.

The group showed particular interest in the smart logistics warehouse of Tmall Global, an online shopping platform of Alibaba for selling overseas goods to domestic consumers, at the Ningbo Hangzhou Bay New Zone.

"They are mainly interested in how the cross-border goods are delivered and how the products from their countries can be directly sold to China," said Wang Xueliang, an executive of the warehouse. 

Cainiao Network, a Chinese logistics company launched by Alibaba Group, has 100,000-square-meter cross-border warehouse at the Ningbo Hangzhou Bay New Zone, making the zone the largest Tmall Global direct-sales base in China.

Representatives praised the advantageous import and export facilities and conditions of Ningbo after the visit, extending their wish to cooperate with Tmall Global and Ningbo Import Commodity Center in the future. 

As the only place selected by ITC for a visit during CIIE, Ningbo is willing to provide reference and assistance for small and medium companies from other countries, said an official from Ningbo Municipal Commission of Commerce. 

ITC established in 1964 is an organization co-managed by the United Nations and the World Trade Organization. It is devoted to supporting the trade of developing nations and in-transition economies, and helping small and medium companies go global.

Company representatives take photos of the Ningbo Zhoushan Port on Nov 4. [Photo/ nbtv.cn]

Company representatives take photos of commodities at the Ningbo Import Commodity Center on Nov 4. [Photo/ nbtv.cn]

Ningbo-Zhoushan Port provide paperless, monitored procedures for containers

Containers full of goods are ready to be transported to other countries and regions at Ningbo-Zhoushan Port in Zhejiang province. [Photo/IC]

Ningbo-Zhoushan Port in East China's Zhejiang province, the world's largest port in terms of cargo throughput, became China's first to provide paperless and monitored procedures for container handling on April 29.

Inbound and outbound containers will be monitored during the whole shipping process and real-time logistics information will be available to the port staff.

Previously, the flow of containers at Ningbo-Zhoushan Port was handled by people with paper documents, a big barrier to efficiency improvement and cost reduction.

As Zhejiang province initiated the "At Most One Visit" administrative reform to cut down on excessive red tape in 2016, the port began to figure out ways to improve work efficiency as well.

In 2016, the Ningbo Municipal Transport Bureau developed a booking system for container pick-up. In April 2018, Ningbo-Zhoushan Port implemented the paperless clearance process for inbound containers, which laid a foundation for complete paperless procedures.

Today, the shipping companies submit electronic documents on an online platform and the forwarders will get QR codes after confirmation. Drivers of container trucks can find and pick up containers quickly with the codes.

It is estimated that 1.5 hours will be saved for every container going through the process.

A truck driver scans the QR code at a self-service machine at Ningbo-Zhoushan Port on April 30. [Photo/cnr.cn]

Wang Kuankuan, a truck driver, said they used to have to visit a few places to get the containers, but the conditions have now changed completely.

At the same time, with the upgrading of the e-commerce platform at Ningbo-Zhoushan Port, logistics information, including that on unloading and loading of containers, can be seen on computers and mobile phones at any time and any place.

Ningbo Meishan Port hits hits 10b yuan in vehicle imports

Imported cars at the Ningbo Meishan Free Trade Port Area in Ningbo, East China's Zhejiang province [Photo/WeChat account: nbfb0574] 

Ningbo Meishan Free Trade Port Area recently recorded a total import value of vehicles of more than 10 billion yuan ($1.48 billion), according to Meishan Customs.

As of April 29, the port had imported a total of 28,867 cars worth 10.02 billion yuan.

"It took only 22 months for the port's vehicle imports to reach 1 billion yuan from zero, and as short as three months to jump from 9 billion yuan to 10 billion yuan," said Zhang Zirui, a local customs official. 

As the sole vehicle import port in Zhejiang province, the port started the business in December 2013.

Since the city was set as a comprehensive experimental zone for the Belt and Road Initiative in September 2017, imported cars from countries and regions involved in the initiative has become a new growth point for the port's vehicle import.

The port imported a total of 12,109 cars from these countries from January 2018 to March 2019, with a total value of 3.37 billion yuan.

Thanks to a series of measures facilitating customs clearance in recent years, the port saw a 75 percent cut of time in the customs clearance for vehicle imports.

Beihang University sets up research institute in Ningbo

Researchers at the Beihang University Ningbo Innovation Research Institute pose for a group in front of the institute. [Photo/cnnb.com.cn]

Beihang University, one of the nation's top universities for aeronautics and astronautics, recently set up a research institute in Ningbo, East China's Zhejiang province. 

The Beihang University Ningbo Innovation Research Institute is located on the city's Meishan Island. It plans to house more than 100 high-level talents by the end of this year. 

The institute will focus on the R&D and industrialization of cutting-edge technologies in new compound materials, intelligent collaborative manufacturing, new energy vehicles, precise instruments and electromechanical control systems.

Researchers work on a mechanical device at the Beihang University Ningbo Innovation Research Institute. [Photo/cnnb.com.cn] 

"We have been conducting research work in Meishan since we signed an agreement with Ningbo last March for setting up the institute," said He Sha, vice director of the institute.

The institute also co-organized the 13th UK-China Workshop on Space Science and Technology last December, which was attended by more than 50 British officials and scholars, as well as nearly 200 space experts, and significantly enhanced the international profile of the institute.

More than 50 British officials and scholars, as well as nearly 200 space experts, attend the 13th UK-China Workshop on Space Science and Technology on Dec 11 in Ningbo. [Photo/cnnb.com.cn]

Chinese Academy of Sciences sets up innovation center in Jiangbei

A delegation of 10 experts from the Chinese Academy of Sciences visits Ningbo, East China's Zhejiang province, on May 16. [Photo/zj.zjol.com] 

A delegation of 10 experts from the Chinese Academy of Sciences (CAS) visited Ningbo, the second largest city in East China's Zhejiang province, on May 16.

Specializing in new materials, life sciences and environment monitoring, they will participate in a series of forums and meetings in the next week to share their insights into the city's technological development. 

In addition, the Zhejiang Innovation Center for the Institute of Innovation and Development of Sciences and Technologies of CAS was launched in the district, providing a platform for quality innovative projects and technology transference from the institute to local companies, which will enhance the district's scientific research capability and core industrial competitiveness.

The Zhejiang Innovation Center for the Institute of Innovation and Development of Sciences and Technologies, CAS, is launched in Jiangbei district. [Photo/zj.zjol.com]

CAS has sent delegations to the district for two consecutive years, providing much intellectual support for the local development. The district cooperated with CAS last year in setting up an innovation center of the Institute of Computing Technology, CAS, in Ningbo, which is the first innovation center of the institute in China.

Two CAS academicians also settled in the district with their teams last year. 

Jiangbei district has been committed to introducing talents in recent years, and has released many preferential measures in housing, medical care and children's education to retain them.

The district housed 154,000 talents by the end of last year, an increase of more than 10 percent for the fifth consecutive year, ranking first in Ningbo in talent increase.

The district plans next to introduce more young CAS scientists in the future.

Ningbo, University of Nottingham to jointly build research institute

Representatives from the municipal government of Ningbo and Britain's University of Nottingham meet on May 17 to discuss building a research institute in the Ningbo High-tech Zone, East China's Zhejiang province. [Photo/zj.zjol.com]

The municipal government of Ningbo and Britain's University of Nottingham signed an agreement on May 17 to jointly build a research institute in the city's high-tech zone, which is expected to be a new engine to drive the city's industrial growth.

The to-be-built institute is a part of the world-renowned university's Beacons of Excellence scheme launched in June 2017 to find solutions to prominent global issues such as slavery and sustainable food supply.

The scheme has so far helped foster close partnerships between more than 300 research teams and many industry-leading companies in the world.

According to the deal, the to-be-built institute will be developed into a world-class innovation platform focusing on smart manufacturing, environmentally-friendly chemistry and energy, and life sciences based on big data, and will introduce global resources in technology and personnel via the university's Beacons of Excellence scheme. 

The institute will also establish related labs and conduct a series of innovation activities to boost the city's scientific and technological development, and carry out cooperation with local companies to drive the city's industrial upgrading.

18 Ningbo firms selected among China's top 500 private tech companies

The award ceremony for the Top 500 Chinese Private Technological Companies is held in Beijing on May 20. [Photo/zj.zjol.com] 

Eighteen companies from Ningbo, East China's Zhejiang province, were recently named among the Top 500 Chinese Private Technological Companies by Science and Technology Daily, the central media outlet announced on May 20.

In particular, the kitchen ware manufacturer Fotile, air conditioner manufacturer Aux, and optical and photoelectric products manufacturers Sunny Photoelectric and Sunny Optical were among the top 100.

The list was made to encourage private companies to enhance technological innovation and promote entrepreneurship. 

The most innovative emerging companies, entrepreneurs, venture capital investors and innovation service platforms were also selected. Jin Hui, president of the Ningbo-based entrepreneur service agency Saichuang Weilai and co-founder of the Ningbo Xidian Tianlang Venture Capital Firm, was selected as one of the most innovative venture capital investors.

"The list is really a motivator for us high-tech investors. As China is currently pursuing innovation-driven development, plenty of innovative high-tech achievements and projects are needed and the support from venture capital firms is also essential," said Jin, pledging that Xidian Tianlang will continue to support China's high-tech innovation and application.

Saichuang Weilai is committed to introducing global talents for regional development, and has introduced more than 100 high-level talents to Zhejiang province over the past few years.