Introduction
The Ningbo High-Tech Park (NBHTP) is a new and hi-tech park area jointly created by the Chinese Academy of Sciences and the municipal government of Ningbo. The Park is also the electronics information industry base of China Torch Plan. NBHTP prioritizes the development of the electronic information industry. The Park also lays emphasis on investment attraction, technical cooperation and project incubation.
Investment Climate
Since the mid-1990s, Ningbo had witnessed fast growth. To a large extent, the rapid development of Ningbo was due to the growth of Beilun Port. In 2003, Ningbo's GDP reached RMB 177 billion (USD 21.4 billion), ranking it 12th among China's major cities.
Riding on the fast development of Ningbo, NBHTP has developed rapidly. By the end of 2003, accumulated foreign investment reached USD 450 million. Some well-known enterprises that have invested in NBHTP include Itochu, Asahi, LG, Toshiba, Samsung, Exxon, Dow, BP and Ningbo Yunsheng.
The status of NBHTP might be enhanced substantially by another project, Ningbo Zhongning Microelectronics. It will be the first 8-inch wafer fab in Zhejiang and has total investment of USD 917 million. Construction started in March 2004 and is expected to be completed in 2005. By then, it will have the capacity to manufacture 40,000 8-inch wafers (0.25 micron and below) monthly. This project is expected to attract more enterprises from both upstream and downstream industries.
