[photopress:zone_ningbo1_1.jpg,full,alignright]Ningbo Free Trade Zone (NFTZ) was one of fifteen free trade zones approved by the State Council since 1990 and is now over 15 years old.
Xia Qun, vice-director of Administrative Committee of NFTZ, said, ‘In 1992, the State Council approved the setup of the NFTZ; in 2002, the State Council approved Ningbo Export Processing Zone, and in 2005, the Ministry of Information Industry approved NFTZ as one of the first National Electronic Information Industrial parks. The dates are the milestones for the development of NFTZ.’
The 6.25-square-kilometer NFTZ has set up a free trade zone, an export processing zone, and a bonded logistics zone covering high-tech processing, international trade and logistics industrial clusters.
By the end of last year NFTZ has attracted 6,000 enterprises with registered capital of US$51.3 billion, of which 940 are foreign-funded firms from more than 60 countries and regions with investment amounts of US$5.3 billion.
Meanwhile the figures keep ascending.
Xia said independent innovation is the key for a Zone’s rapid development.
He said, ‘The administered committee of the NFTZ promotes the construction of innovation systems and promotes the achievements of advantageous technology and development of high-tech industry with building a State level IT industrial base as the objective, and independent innovation as the core.’
This year the zone expects an industry output value of RMB12.8 billion, international trade volume of US$3.2 billion and a fiscal income of RMB359 million for every square kilometer next year.
Xia Qun said, ‘The NFTZ is looking forward to a promising future.’ With figures like that who would argue?
Source: Ningbo Life