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Encouraged by favorable policies, more private enterprises in this important industrial base in east China's Zhejiang Province are investing more in the west of the country.
Incomplete statistics show that already some 200 such enterprises have invested over two billion yuan in the west.
This coastal city is known for its garments, processing and petrochemicals industries.
Ningbo's Yixiu Garment Corp. invested 20 million yuan (US$2.41 million) in establishing a school uniform manufacturing base in Sichuan Province. Its sales volume in the west now accounts for one fourth of its total sales volume in China.
Yuyao, a city under the jurisdiction of Ningbo, boasts some 800 car and motor parts enterprises. During the past few years, they have set up some 250 service centers in the west, and achieved 500 million yuan (US$60.24 million) in sales volume.
Another Ningbo company, Hengkang, a food processor, has built a raw material production base in the west, while half of the real estate investors in Yuyao have already invested in the west.
Investment from Ningbo has not only helped speed up economic development, but also resettled many unemployed people in the west.
(Xinhua 03/01/2001)
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