Ningbo is located in the northeast part of Zhenjiang province and it is on the list of important business hubs and special economic zones in China. Ningbo port is among the busiest exits in the world and a gate to Europe, Africa and Asian countries for international trades. Foreigners can easily set up companies in Ningbo Coastal Development Area and can talk to our team of company formation representatives in China. Assistance is provided for opening a WFOE in China, the most suitable business structure for most of the entrepreneurs in this country.
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Short facts about Ningbo Coastal Development Area
Considerable foreign investments took the road to Ningbo where the economic activity continues to grow at a fast pace. The preferential policies are not an exemption in this special economic zone, on the contrary, foreign investors are attracted by the ease of doing business, especially in the trading sector, manufacturing and many other industries. Here are a few features about Ningbo Coastal Develop0ment Area:
- The import and export activities involve industrial tools, electronics, textiles, food products and many more.
- Ningbo is an important economic center found in the northern part of Yangtze River.
- Ningbo Government, Ningbo Foreign Trade & Economic Cooperation Bureau and Ningbo Foreign Affairs Office are the administrative bodies in this special zone.
- The city’s administration oversees the activities of companies established in Ningbo’s islands.
There are no complicated requirements for establishing a company in Ningbo Coastal Development Area, however, instead of having issues involving the language or paperwork, it is best to solicit the services of our company formation representatives in China.
Development areas in Ningbo
There are more than 10,000 foreign investors attracted by the appealing development areas in Ningbo. Here are the main zones meant to serve businesses of all kinds:
- Ningbo Daxie Development Zone for transshipment of energy, construction, logistics.
- Ningbo Free Trade Zone with several tax exemptions offered to foreign companies.
- Ningbo Advertising Park with more than 300 foreign companies registered.
- Ningbo National Hi-Tech Industrial Development Zone founded in 1999 and serving to companies and technical innovation on Yangtze River.
- Ningbo Economic and Technological Development Zone hosting chemical companies and mobile enterprises.
These development zones benefit from excellent transportation by sea and air, plus the highly developed railway system and serve to numerous companies with varied activities, including import and export of products and raw materials. The recommended business structure in Ningbo Coastal Development Area is the WFOE or Wholly Foreign-Owned Enterprise for a minimum share capital of RMB 35,000. If the board of managers and the legal representative are appointed, and the documents prepared for submission, the incorporation of a WFOE in China can commence. There are no hard conditions or requirements, yet, it is suggested to have a team of professionals by your side because they know how to handle the tasks with the Chinese authorities. This is where our team of company formation specialists in China can provide complete and immediate assistance for both local and international entrepreneurs.
The port of Ningbo – what you need to know
Ningbo Port is located in two districts, Zhenhai and Beilun, it is of high capacity, it provides huge logistics service and it is considered as having the same importance as Shanghai Port. This is an important business gate that serves more than 300,000-ton vessels from all over the world. Foods, chemicals, electronics, automotive parts, furniture, raw materials, home appliances, massive chemicals, and many other products or items which take the road to China can enter the port of Ningbo for control, quarantines, inspections and then distribution. The port of Ningbo is considered one of the busiest ports in the world, ranked on the 7th position in terms of total cargo volume.
In addition to the excellent port services which serve to thousands of companies in Ningbo, the city has an excellent railway system which connects with the main cities in China and abroad. The reconstruction began in 2013 with the solid idea of developing in a fast manner and to aid the international business at a large scale.
If you are a foreign entrepreneur looking for business in Ningbo Coastal Development Area, we kindly invite you to contact our team of company formation agents in China and find out complete details about the company formation in China.