Zhejiang businesses in Shanghai to invest in Ningbo

Representatives of the Ningbo government and the Shanghai Zhejiang Chamber of Commerce shake hands as the two sides reach an agreement on May 17 to deepen cooperation. [Photo/cnnb.com.cn] 

The government of Ningbo, East China's Zhejiang province signed a deal with Shanghai Zhejiang Chamber of Commerce on May 17 to deepen cooperation in advanced manufacturing, shipping logistics, digital economy, tourism and talent cultivation.

According to the deal, the chamber will encourage more projects by Zhejiang businesses in Shanghai to land in Ningbo while Ningbo will ramp up support for the project landing by providing necessary services. 

Some member companies of the chamber signed seven projects worth 13.7 billion yuan ($1.98 billion) with the city's counties and districts, such as the old town renovation project in Xiangshan county and the project of building an intelligent industrial park in Jiangbei district.

In addition, Shanshan Co, a local new energy products manufacturer in Ningbo, signed a deal with the Ningbo Front Bay New Area in jointly building an industrial park and an innovation center for new energy vehicles.