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 Petrochemical industry

Located in eastern China, one of the most economically dynamic regions in the country, Ningbo's petrochemical industry is well supported by an ever-expanding market.

Ningbo Petrochemical Industrial Zone. [Photo/chemzone.gov.cn]

After nearly 50 years of development, the petrochemical sector has become the biggest industry in Ningbo port area in terms of output value. An industrial system featuring petroleum processing, high molecular synthetic materials and basic chemical raw materials has been formed in various major industrial parks, including Ningbo Petrochemical Industrial Zone, Beilun Economic Development Zone and Daxie Economic Development Zone.

Ningbo SK Rubber Co Ltd. [Photo/chemzone.gov.cn]

The advantageous regional conditions and abundant natural resources have attracted many projects invested in by foreign businesses, including BP from the United Kingdom, LG Chem from South Korea and Mitsubishi Chemical Holdings Corporation from Japan. The city is capable of producing products of outstanding quality.

[Photo/chemzone.gov.cn]

Brief Introduction To Ningbo Textiles Industry

Ningbo is an important base for textile and garment production, processing and export in southeastern China. There are more than 3,000 textile and garment manufacturers in the city, and their products are sold to more than 200 countries and regions. 

[Photo/zj.zjol.com.cn]

In recent years, local private textile and garment enterprises in Ningbo have accelerated the pace of going abroad and have achieved remarkable results. For example, Shenzhou has opened factories in Vietnam and Cambodia to increase overseas production capacity. Youngor acquired the well-known US brand Hart Schaffner Marx. The company also invested in the high-end French brand, Alexis Mabille, to improve product design and continue to expand its global market. 

[Photo/zj.zjol.com.cn]

Ningbo textile and garment industry presents several development trends and characteristics: industrial clusters have begun to take shape and varieties are constantly enriched; intelligent transformation and personalized customization have become the norm in the industry; new platforms for textiles and garments are constantly emerging; structural trends are optimized and layouts are becoming internationalized.

In the future, Ningbo will introduce and implement a series of measures for the development of the textile and garment industry, such as preparing special plans for industrial clusters, improving the level of enterprise capabilities; cultivating industrial public service platforms; and enhancing product brands. 

Ningbo's textile and garment industry has a solid foundation. Although most of the sector’s businesses started by manufacturing for large brands, with continuous development they have gradually established their own high-quality, relatively stable production and operation systems, and have become the driving force in the textile and garment industry for promoting green sustainable development.

[Photo/zj.zjol.com.cn]

In 2018, the 501 enterprises above designated size in the local apparel industry realized an added value of 13.9 billion yuan ($2.07 billion), a year-on-year increase of 5.2 percent. The textile industry achieved an added value of 7.62 billion yuan, and completed an industrial output value of 32.71 billion yuan.

Brief Introduction To Ningbo Home Appliance Industry

The home appliance industry is a dominant industry in Ningbo, accounting for about one-eighth of the city's total industrial output value. The household appliances market has more than 4,500 machine-building enterprises and 15,000 parts and components supporting enterprises. There are more than 20 sub-sectors and tens of thousands of products, such as air conditioners, refrigerators, washing machines, range hoods, vacuum cleaners, kitchen appliances, beauty care appliances, and ventilation, heating and water purification appliances. 

[Photo/zj.zjol.com.cn]

More than 10 fields have been ranked first in the country for many years. The industry has distinct advantages. There are not only leading companies, including Aux, Fangtai and Bull, which have core technology and brand advantages, but also well-known brands such as Shuaikang, Jide, Olin, Gion and Xinle, which have a large share of the high-end market. The city has also attracted many famous brands such as Besdi, Zhuoli, Fujia, Seymour and Langmu.

The current integration of cloud computing, big data, artificial intelligence and other new-generation information technologies with the traditional home appliance industry has propelled the sector to accelerate intelligent transformation and become a new outlet for the internet of things. As the most advantageous and characteristic support industry in Ningbo, the home appliance sector will be upgraded to become a national smart home appliance industry innovation center to promote the development of a smart economy.

Ningbo will guide traditional small household appliance enterprises to cultivate internet thinking methods and form new business models. At the same time, small household electrical appliance enterprises are being encouraged to promote intelligent manufacturing applications and product innovation. 

[Photo/zj.zjol.com.cn]

The city will strive to build a high-end and intelligent small household appliance industry through alliances, mergers and acquisitions, and optimization of integrated resources. Chen Diming, secretary-general of the Ningbo Household Appliance Industry Association, said that with the in-depth development of the National Small Appliance Industry Famous Brand Creation Demonstration Zone, Ningbo will cultivate a number of backbone enterprises with local characteristics, clear division of labor and strong competitiveness with an annual output value of more than 10 billion yuan ($1.49 billion).

Brief Introduction To Ningbo Auto Parts Industry

Ningbo is one of the leading auto parts production centers in China. Its cluster has 2,300 auto parts manufacturers.

In 2017, the total output value of automobile manufacturing enterprises in Ningbo was 192.4 billion yuan ($28.67 billion), a year-on-year increase of 29.8 percent, which exceeded the electrical machinery industry and chemical raw materials products for the first time to become the largest industry in the city. 

[Photo/cztv.com]

In the first 10 months of 2017, the total output value of Ningbo's automobile manufacturing industry was 187.23 billion yuan, a year-on-year increase of 20.2 percent. It remained first in all industries with an accumulated profit of 26.41 billion yuan.

From 2014 to 2017, the annual growth rate of the industrial output value of Ningbo’s auto parts industry remained at around 30 percent. There are currently more than 4,000 professional producers in Ningbo, among which more than 30 are listed companies and about 600 are above designated size. 

According to the Equipment Office of the Municipal Economic and Information Commission of Ningbo, the proportion of Ningbo's automobile industry in the province's industrial sector reached 42 percent last year. It is expected that this proportion will continue to increase this year.

An innovation comnference is held in Ningbo for the automobile industry. [Photo/cztv.com]

Ningbo has become an important automobile industry base in the province, with nearly 500,000 vehicles being made in the first nine months of 2018. After the construction of several new projects in 2020, the city's  production capacity is expected to exceed two million vehicles.

In the future, Ningbo will aim for the comprehensive development of traditional automobiles, energy-saving and new energy vehicles, auto parts and auto service industries, and create a greener and smarter automobile industry. 

[Photo/cztv.com]

The public service platform of Ningbo's auto parts industry was also officially launched in 2018.  The platform will serve as a public welfare industry service platform combining many functions such as integrating information services, research and evaluation, and consulting and assistance for the industry.

Brief Introduction To Ningbo Mold Making Industries

Molds are essential to industrial production. In making products such as electronic appliances, automobiles and home appliances, nearly 60 to 80 percent of parts are formed by molds. The quality of the mold determines the quality of the products. 

Ningbo Mold Industrial Park. [Photo/mouldtop.cn]

As one of the main production bases for molds in China, Ningbo plays a significant role in the industry. In recent years, its mold industry has maintained an annual growth rate of more than 25 percent.

Mold enterprises can be seen in almost every part of the city. They are capable of producing all 10 categories of molds, including plastic, casting and die-casting molds. Their products enjoy fame across the country. By the end of 2017, there were 180,000 employees in the mold industry in Ningbo, helping to generate an output value of about 45 billion yuan ($6.71 billion), which accounts for about 20 percent of the total amount.

In 2005, Ningbo was named "China's Mold Capital"and a "China Mold Production Base". It also established the China International Mold Industry Development Service Center. With government support, the production volume of plastic molds in Ningbo ranks among the highest in the country. Ninghai's large plastic molds, Beilun's die-casting molds, Yuyao's precision plastic molds, Cixi's home appliance molds, Xiangshan's casting molds, and Zhangzhou's auto parts molds are some of the most well-known products in the industry.

Guests visit mold exhibitions in Ningbo. [Photo/mouldtop.cn]

Various mold bases in different areas such as Ninghai Mould City, Yuyao Mould City and Cixi Mould Technology Park help to cultivate many small and medium-sized mold enterprises and realize the effective integration of different production factors.

Sindar Machinery Mould Manufacture Co Ltd. [Photo/nb-xd.com]

Ningbo Mold Industrial Park was built to transform and upgrade the local mold industry. So far, the park has gathered more than 2,000 mold talents and nearly 100 technical research and development professionals. The park can generate annual output value of nearly 1 billion yuan.