On Aug 18, the Chinese city of Yinchuan held an investment promotion meeting to drum up foreign investment in Northwest China's Ningxia Hui autonomous region.
16 projects were signed, with a total investment of 2.43 billion yuan (about $358 million), covering new energy, trade, asset investments, petrochemicals, sewage disposal, finance, manufacturing and other fields.
The investment promotion meeting is held in Ningxia on Aug 18. [Photo provided to seeningxia.com]
The investment promotion meeting is an important part of "the 2022 Multinationals' Senior Executives and Diplomats in China to Ningxia" series. It is also one of the important foreign economic and trade activities held by Ningxia in recent years, as well as a high-standard promotional activity for foreign investment.
The meeting aims to attract more multinational companies to invest in Ningxia's new materials, clean energy, equipment manufacturing, wine, goji and cultural tourism industries by building a foreign trade and investment cooperation platform, and further enhancing the contribution of foreign capital to Ningxia's economic and social development.
In recent years, Ningxia has seized the opportunities of western regional development, the construction of "the Belt and Road" and the promotion of the ecological protection and high-quality development of the Yellow River Basin.
At present, Ningxia has expanded its international trade to 169 countries and areas. In 2021, its regional GDP increased by 6.7%. Its import and export of goods increased by 73.4% year-on-year, second fastest in the country. In the first half of this year, Ningxia's GDP increased by 5.3% year-on-year. Its total import and export volume increased by 70.1%, fastest in the country.
The 2022 Investment promotion meeting for Multinationals' senior executives and diplomats [Photo provided to seeningxia.com]
Ningxia has rich resources, distinctive industrial characteristics, low investment costs and an excellent business environment. The China-Arab States Expo, the China (Ningxia) International Wine Culture and Tourism Expo, Ningxia Inland Opening-up Pilot Economic Zone, and other national and international platforms have played a crucial role in promoting economic and trade cooperation among countries along the "the Belt and Road", and have provided great opportunities for multinational enterprises.
Ningxia says it will continue to accelerate its industrial transformation and upgrading, concentrate resources to create characteristic and advantageous industries, and build the most attractive and competitive investment hub in western China.