Ningbo to Boost Trade Ties with Eastern and Central Europe

Editorial Team
Editorial Team
Ningbo to Boost Trade Ties with Eastern and Central Europe

The coastal city of Ningbo in Zhejiang province has recently unveiled a set of extensive new measures aimed at strengthening cooperation with Central and Eastern European (CEE) countries. 

The new policies are designed to transform Ningbo into the most favourable investment and foreign trade destination in China for the CEE countries. To this end, a series of streamlined application procedures, investment and financing support, and incentives in tourism and cultural programmes are to be introduced and non-governmental exchanges will be supported. 

Under the new measures announced, the Ningbo city government will set up a special fund to ensure the smooth organisation and operation of the China-CEEC Investment and Trade Expo every year. Prospective Chinese and CEE enterprises and exhibitors to attend the Expo will be provided support in booth renting, logistics, translation, reception and business negotiations. 

Government organisations, commercial associations and enterprises from the CEE countries, which take part in the expositions held in Ningbo, will be able to take advantage of preferential policies. 

The Ningbo government will also facilitate cross-border transactions with the CEE countries. Goods imported from the CEE countries can preferentially adopt H986 containers inspection equipment to make tracking and simultaneous supervision easier. Bulk goods from these countries can be declared to customs in advance and get customs clearances upon arrival.

It will help cut the logistics costs of enterprises and transportation time, which, in the end, is expected to provide a strong impetus to revive China’s foreign trade with these CEE countries.

In an effort to help increase Chinese exports to the CEE countries, the Ningbo city government will also appropriate funds every year to encourage local enterprises to invest in the CEE countries. Local enterprises who win contracted projects in the CEE countries and plan to establish a marketing base and a resource exploitation centre can obtain subsidies, upfront, or during the construction and operation stages, every year.

Reciprocally, the new measures also envisage favourable policies for the CEE enterprises who will invest in Ningbo. Such policies include support for factory premises renting, land acquisition and utilities bills. The government will also strive to simplify its foreign exchange administration and project approval procedures for overseas investments from the CEE countries. 

In the field of tourism, Ningbo-based travel agencies will receive government subsidies if they launch package tours to the CEE countries, which would serve as a growth incentive for the tourism industry in those countries. The city tourism bureau plan to call on local travel agencies to offer local residents discounted package tours to the CEE countries in June. 

Under new measures announced to increase bilateral ties between Ningbo city and the CEE countries, cooperation in the field of education will also be intensified. To boost bilateral educational exchanges, a special scholarship for students from the CEE countries will be instigated. It will also roll out specially-designed policies to encourage local universities to employ teachers from those countries and promote China-CEEC cooperation in setting up and running joint schools.

The Ningbo government will join hands with overseas communities, overseas student organisations and employment agencies in the CEE countries to build an exchange platform for talents from both China and the CEE countries. It will encourage participation of local talents in key programmes of the CEE countries in traditional Chinese medicine, Chinese language teaching, trade, architecture and electromechanical areas. 

Bilateral cooperation between the media organisations of both sides will also be established. The city government is currently working to dispatch journalists to the CEE countries for news coverage and establish a mechanism for regular news and information exchange in a bid to advance China-CEEC cooperation and deepen mutual understanding and friendship between the people of both sides. 

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The Editorial team at APAC Outlook Magazine is a team of professional in-house editors led by Jack Salter, Head of Editorial at Outlook Publishing.