Economic & Trade Cooperation between Ningxia – BRI Countries & Regions
The Expo Bureau of the Ningxia Hui Autonomous region that in recent years, Ningxia has given full play to its role as a platform for the China-Arab countries Expo and actively integrated into the “Belt & Road Initiative” construction.
The development of the inland open economy has advanced steadily, and economic and trade cooperation with countries and regions along the “Belt & Road Initiative” route, including Arab countries, has been continuously deepened.
At present, Ningxia has carried out economic and trade exchanges and cooperation with 187 countries and regions and established international friendly city relations with 57 local governments in 49 countries.
In the past five years, Ningxia has achieved a total import and export volume of 158.18 billion yuan, an average annual growth rate of 4.9 percent, of which the countries along the “Belt & Road Initiative” line have achieved a total import and export volume of more than 40 billion yuan, with an average annual growth rate of more than 5 percent.
According to Zhang Liwei, Deputy Director of the Autonomous region’s Expo Bureau, Ningxia has set up 148 foreign enterprises in 30 countries and regions, of which 32 are located in Mongolia, Russia, Kyrgyzstan, Egypt and other “Belt and Road Initiative” countries.
In 2018, Ningxia’s overseas direct investment reached 500 million US dollars, positive progress has been made in the construction of overseas parks, and the construction of the first entry project of China-Saudi Arabia (Jizan) Industrial Park has begun.
At the same time, under the leadership of the construction of “Belt & Road Initiative”, Ningxia promotes Omni-directional and multi-level opening up to the outside world and consolidates and expands economic and trade exchanges and cooperation with various countries.
It has effectively promoted the transformation and upgrading of foreign trade and achieved historic breakthroughs on the scale and quality of foreign capital utilisation.
Since 2013, Ningxia has exported more than 1000 kinds of commodities, covering 187 countries and regions, accounting for 46% of exports to traditional markets such as Europe, the United States, Japan and South Korea, and 36% to emerging markets along the “Belt and Road Initiative” route.
It has formed a diversified market pattern in which traditional and emerging markets rely on and complement each other.
In the past five years, Ningxia has set up 165 new foreign-invested enterprises, with a total of more than 1.2 billion US dollars of foreign capital actually utilised, accounting for more than 50 percent of the total amount of foreign capital actually utilised over the years.
Foreign investment comes from more than 50 countries and regions, such as the United States, Singapore, Norway, Japan, South Korea and so on.
The investment field is mainly involved in equipment manufacturing, coal chemical industry, new energy, modern agriculture and other industries.