Brief Introduction of Jiangdong district
1.1 Regional Survey
Jiangdong district is a key urban district of the modern international seaport city of Ningbo. The Beilun Port lies to its east and Sanjiangkou (three estuaries), the most thriving place of Ningbo, adjoins in the west. Ningbo High-Tech Park lies in its north and Ningbo High Education Zone to its south. Jiangdong district covers an area of 37.7 sq. km., and has a residential population of about 300,000. It is a new and developing modern central urban district. According to the General City Program of Ningbo, Ningbo is speeding up its pace of expanding eastern and the construction of new eastern city proper. Jiangdong district will be constructed as the center of commerce and trade, exhibition, science & technology, information and administration in Ningbo.

1.2 Transportation Condition
The Shanghai–Hangzhou–Ningbo Expressway, which cuts its way to Beilun Port (20 minutes to drive) passes across Jiangdong district. The Tongsan Expressway, which adjoins major cities alongside China coastline from Tongjiang city of Heilongjiang province to Sanya city of Hainan province, joins in Jiangdong district. It takes only about 1.5 hours to drive to Hangzhou and 3 hours to Shanghai . The 36km-long bridge connecting Ningbo and Shanghai across the Hangzhou Bay is in construction, and it will take less than 2 hours to drive to Shanghai after its completion. The Lishe International Airport, is about 15-minute-drive from Jiangdong district and the Xiaoshan International Airport is within the one-hour traffic ring.

1. 3 Economy Foundation
Aiming at constructing the new modern central urban area, Jiangdong district is endeavoring to put effect the strategy of building the ecotype district with science and technology, strong service support and advanced culture. The urban type industries concerning the information technology, optical-mechanical- electronic integration and new material, have shown fine development advantages. Jiangdong district has gained continuous growth of GDP by 15 percent and continuous growth of finance avenue by 30 percent for five years.

There are many high and medium rank hotels and restaurants in Jiangdong district, among which one is five-star hotel and five are four-star. The Shangri-La Hotel, Hillton Hotel and Radison Hotel are in construction and put into use by 2006. Hantong Restaurant, Xiangyang Fishery Restaurant, Xincaihong Restaurant, and Haoyangguang Restaurant are the most famous restaurants in Ningbo and also in China. They provide various valued delicious seafood and snacks, which can meet different repast demands. Sports facilities like Ningbo Sports Center, Youngor Gymnasium and Ningbo Swimming Center provide citizens with recreation. Comprehensive medical treatment and sanitation organizations like Lihuili Hospital, Ningbo No. 6 Hospital, 113 Hospital provide perfect health care to the people living here. Golden Center , Carrefour, Oushan are good shopping places.

1.4 Investment Environment
As the city is expanding eastern, Jiangdong district is endeavoring to improve government efficiency and investment environment with the concept that fine environment is productivity and competitiveness, and the construction of Jiangdong Government Affair Transaction Center, Economic Development Environment Supervision & Complaint Center, Jiangdong Foreign Investment Service Center and Jiangdong Foreign Trade Enterprises Association. All the measures are helpful to provide conveniences to investors with all-way-green promises.

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Jiangdong Invest Guide

2.1 Modern Service Industry
With so many years' development and the per capita GNP climbing to USD 3,000 last year, Ningbo has built itself as the important base of national advanced manufacturing industry and demands highly for the modern services such as exhibition, commercial trade & business, law, finance, logistics, agency, real estate, tourism, insurance and information. With the completion of the Hangzhou Bay Bridge connecting Shanghai and Ningbo in the future, especially the city expanding eastern, Jiangdong district aims to build itself as the center of the Ningbo's administration, exhibition, science & technology, business and information. The modern services above mentioned will see the splendid future.

2.2 Building Economy
The building economy is also developing well in Jiangdong district, in which as many as 61 buildings, including those in construction, are located with more than 600,000 sq. m.. With the help of electronic map of buildings resources telling detailed information and based on the development and construction of the commercial buildings, Jiangdong district is endeavoring to encourage the entry of specialty service organizations concerning commercial trade& business center, head office, R&D center, distribution center, finance and insurance, science & education and agency service. The unique buildings of Logistics Mansion and Ocean-transportation Mansion are now available for relevant industry chain enterprises.

2.3 Urban Industry
After years of development, a batch of hi-tech companies, including national or provincial or municipal level R&D and hi-tech enterprises, boomed in Jiangdong district. A series of engineering centers are set up in enterprises leading to new hi-tech products developed and a group of hi-tech SMEs growing rapidly. Jiangdong district has established overall cooperation with 23 universities and institutes, such as China Academy of Science, Zhejiang University, and Shanghai University. In order to fulfill further growth of Hi-tech economy, information industrialization and promotion of the overall level in traditional industries, Jiangdong district is actively helping enterprises to establish cooperation with universities and institutes. Jiangdong district is also absorbing capital, technology, talents and scientific management so as to restructure and upgrade traditional industry by encouraging investors to purchase, share hold, or annex current enterprises. There is also an industrial function area of 4 sq. km. encouraging the investment in the Hi-tech industry and urban industry.

Preferential policies

3.1 Income tax on enterprises with foreign investment
The income tax on the productive enterprises with foreign investment established in Jiangdong district of Ningbo shall be levied at the reduced rate of 24%. Should the project be scheduled to operate for a period of 10 years or more, the income tax may be exempted in the first two profit-making years and shall be levied at the reduced rate of 12% in the third to the fifth year.

In the years following the expiration of the period for tax exemption or reduction, the export enterprises with annual value of export products amounts to 70% or more of the annual value of the total products shall be levied at the reduced rate of 12%.

Technologically advanced enterprises shall be levied at the reduced income tax rate of 12% for an extension of 3 years following the expiration of the period for tax exemption or reduction.

3.2 Reinvestment Tax Reimbursement
Any foreign investor of an enterprise with foreign investment which reinvests its share of profit obtained from the enterprise directly into that enterprise by increasing its registered capital, or which uses the profit as capital investment to establish other enterprises with foreign investment to operate for a period of no less than 5 years shall, upon approval by the tax authorities of an application filed by the investor, be refunded 40% of the income tax already paid on reinvested amount. Those who reinvest in the export enterprises or technologically advanced enterprises may obtain a refund of all the income tax already paid on the reinvested amount with the approval of the tax authorities.

3.3 Withholding Income Tax
Any foreign investor who has no establishment or place in China but derives profits, interest, rent, royalties or other income from Ningbo may be levied at a reduced rate of 10%, except for exemption of the income tax prescribed by laws. For those who would provide advanced technology or invest in capital or equipment with the preferential terms, exemption or reduction may be allowed upon approval.

3.4 Remittance Tax
Profits gained by the foreign investors from the enterprises shall be exempted from remittance tax when they remit them out of China.

3.5 Customs Duties
The customs duties and import-related value-added tax are not levied on the self-use equipment (except for those stipulated in CATALOGUE OF IMPORTED COMMODITIES NOT ENTITLED FOR TARIFF EXEMPTION FOR PROJECTS WITH FOREIGN INVESTMENT imported by foreign investment project in accordance with THE ENCOURAGED FOREIGN INVESTMENT INDUSTRIES AND RESTRICTED FOREIGN INVESTMENT INDUSTRIES (B) OF THE CATALOGUE FOR THE GUIDANCE OF FOREINGN INVESTMENT INDUSTRIES (PROMULGATED ON APRIL 1, 2002).

3.6 Export Drawback
The taxation exemption, offset and refund practice shall be applied to Export products of enterprises with foreign investment. Taxation exemption in the policy means that sales added value tax shall be exempted from products by self-operated or agent export via foreign trade enterprises of productive enterprises. Taxation offset means the tax due of products for domestic sales shall be offset by collected tax on consumed raw materials, spare parts, of which the tax should be exempted or returned, from products by self-operated export or agent export via foreign trade enterprises. Taxation refund means, if the products by self-operated export or agent export via foreign trade enterprises take up more than 50% of the total sales income of the period products, if the tax or offset is more than the tax due within one quarter, the exceeding part shall be returned with the approval of taxation department in charge of tax refund.

Service Organizations
Ningbo Jiangdong Foreign Trade & Economic Cooperation Bureau

Ningbo Jiangdong Foreign Investment Promotion Bureau
Address: Floor 7, No. 58, Caihong North Road, Ningbo, China
Zip Code： 315040
Tel： 0086-574-87334366
Fax ： 0086-574-87372008
Service Hotline： 0086-574-87755329
Website： http://www.nbjd.com
Email： invest@nbjd.com

Ningbo Jiangdong Planning and Economy Bureau
Tel： 0086-574-87332209
Fax ： 0086-574-87332446

Ningbo Jiangdong Trade Bureau
Tel： 0086-574-87712817
Fax ： 0086-574-87333223

Ningbo Jiangdong Finance and Tax Bureau
Tel ： 0086-574-87370049
Fax ： 0086-574-87370049

Ningbo Jiangdong Land Resource Bureau
Tel ： 0086-574-87887288
Fax ： 0086-574-87399955

Jiangdong Hi-Tech Park Administration Committee
Tel： 0086-574-87930605
Fax： 0086-574-87930610
Website ： http://www.jdhtp.com
Email ： webmaster@jdhtp.com

Ningbo Jiangdong Government Affair Transaction Center
Tel： 0086-574-87848758 Fax： 0086-574-87848757
Website：http://www.nbjdzw.gov.cn
Email： jdzw@mail.nbptt.zj.cn

Ningbo Industry and Commerce Administration Bureau Jiangdong Branch
Tel： 0086-574-87339767
Fax： 0086-574-87339767

Ningbo Quality and Technology Supervision Bureau Jiangdong Branch
Tel： 0086-574-87374736
Fax： 0086-574-87374736

Ningbo State Tax Bureau Jiangdong Branch
Tel： 0086-574-87393882
Fax： 0086-574-87393884

Ningbo City Planning Bureau Jiangdong Branch
Tel： 0086-574-87330618
Fax： 0086-574-87330618

Ningbo Environment Protection Bureau Jiangdong Branch
Tel： 0086-574-87711228
Fax： 0086-574-87711228

Ningbo Power Supply Bureau Jiangdong Branch
Tel： 0086-574-51103306
Fax： 0086-574-87396966

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