Approved by the State Council in March, 1993, CITIC began undertaking vast tract development in Daxie, which is granted the preferential policies eligible to national level economic and technical development zones. It is by far the unique national-level economic and technical development zone fully developed and operated by an enterprise in China.
CITIC was founded in Oct., 1979, under the direct leadership of the State Council of the People's Republic of China. Up to now, CITIC has grown into a transnational conglomerate incorporating finance, investment, technology, real estate, consultation and tourism. By the end of 2002, its total assets had exceeded RMB 480 billion yuan. To develop Daxie Island is the transcentury and gigantic project to CITIC, and therefore the CITIC Daxie Development Company was set up on behalf of CITIC to undertake vast tract development of Daxie. Simultaneously the Administrative Committee of Daxie Development Zone was established on behalf of Ningbo Municipal Government to excise the administrative rights.
With ten years of development and construction, Daxie presently has boasted mature infrastructures, and it has become the flourishing hot spot for investment on the seashore of China East Sea. The eminent deepwater coastline, beautiful environment of water and hill depending on each other, preferential policies and efficient service will meet the requirements of all kinds of investors. Warmly welcome to Daxie for seeing about and making investment!
About Daxie
Daxie Island is located in the middle part of China coastline, which is about 40km to the east of the downtown of Ningbo. The beeline distance between Daxie and the north of Shanghai is more than 100km. The nearest point to the mainland is less than 0.5km, and presently Daxie Island is connected with the mainland by sea-spanning rail-and-road bridge.
Daxie Island covers more than 30.84 km2, of which about 14 km2 is hilly area. The developed area of Daxie is 11.4 km2. Of the 26.14km coastline, 10.7km belongs to the deepwater coastline with water depth measuring from 20-30m just about 100-150m off the shore. The favorable situations of broad and mild water, minor waves and never silted or frozen can meet the requirements of building VLCC terminals.
With the Yangtse River Delta and Basin including Zhejiang Province and Shanghai as the hinterland, Daxie will grow into the significant entrance to the sea and goods transshipment center.
In the coming five years, Daxie Development Zone will be built into "World first-class port and export-oriented economic zone", which, with industries as the base, the port as the locomotive, and export processing, international trade and cargo transshipment and storage as the backbone, is fairly developed in tertiary industry, full-featured in functionality, beautiful in environment and rational in layout.
Development Advantages
- Located in the Yangtze River Delta which has the most vigor and potentiality.
- With the outstanding region superiority and port construction conditions
- Class A port development and opening-up area approved by the State Council with the full port facilities.
- For batched construction land has been transferred to CITIC, the land transfer is very convenient.
- Being more independent in management, and the government can offer effective and high service.
Infrastructure facilities
Aviation It is about 40-minute-ride from Daxie to Ningbo Lishe Airport, and from Daxie to Xiaoshan International Airport, Shanghai Pudong International Airport and Hongqiao Airport are 1.5 to 3.5 hours ride respectively.
Shipping In 2002 the handling capacity of Ningbo Port 150 million tons, second in China, and the handling throughput of containers are 1.85 million TEUs. The present containers shipping lines of Ningbo Port are more than 70, and there are more than 370 of runs of ships.
There are variable special jetties from 5000DWT to 250000DWT, with the total handling capacity of 20 million DWT.
Road There exists convenient road traffic in Daxie, and Daxie is connected with the national comprehensive transportation network via Daxie Sea-spanning Railway and Highway Bridge.
Railway Daxie Railway will be built in 2003. After the completion in 2005, the railway will be connected with the national network via Ningbo-Xiaoshan dual line.
Water supply The present daily water supply capacity of Daxie is 150000 tons.
Power Supply With the operation of one 110kv-substation and three 35kv-substation, the dual power supply system can meet the requirement. The 220kv-substation is in the preparation period.
Steam supply After the operation of Daxie thermoelectric plant in 2004, the steam supply of 10barg and 40barg can get 400 tons per hour.
Gas supply There are available gases supply with high purity , including nitrogen, oxygen, monoxide, chlorine, hydrochloride and LPG.
Communication The available service of programmable switchboard, wireless communication and internet can meet the requirements of all kinds of investors. 
Development Achievements
The perfect port and industrial construction situations have attracted many large-scale companies from home and abroad to see about and negotiate to hunt the opportunities of investment and cooperation. The large-scale investment projects in Daxie are as following:
LPG Terminal of East China
It is invested by Bp Company with the total investment amounting to US$ 96.5 million. The annual import capacity is 1.7 million tons. After the operation in Oct., 2002, it has become the largest LPG storage and distribution center in Asia.
250,000-ton DWT Crude Oil Transshipment Base
It is co-invested by China Petroleum and Chemical Co.,Ltd and Ningbo Port Affairs Bureau, with three 250,000-ton crude oil unloading terminals and one 20,000-tons crude oil loading terminal. The total capacity of the tanks is 2 million m3. With the stepwise construction and operation, Daxie will be the oil products storage and distribution center of East China and Yangtze River Delta and Basin. The handling throughput of the base in 2002 was 5.25 million tons., and the amount in 2003 is expected to hit 15 million tons.
The Top-grade Pitch Project of Liwan Petrochemical Co.
The total investment amounts to 30 million US$, with the annual production capacity of 50,000-ton high grade pitch. It is to be in operation in June, 2003.
The MDI project with annual production capacity of 160,000 tons
It is invested by Yantai Wanhua Polyurethane Co., Ltd with the total investment amounting to RMB 2.4 billion yuan. The supporting projects include 50,000 DWT Coal Terminal, liquefied Chemical Terminal, aniline project, gas manufacturing project, chloride soda project, thermoelectric plant and air separation project. MDI project has been approved, and it is to begin the construction in June, 2003. It is in the end of 2005 that the project will put into operation.
Containers Terminal Project
It is planned to build four 5th-and-6th-generation container berths with the total investment of US$ 390 million. It is going to start the construction in 2003, and put into operation before 2005, with the annual handling throughput of 2 million TEU.
PTA Project
PTA project has been submitted to the central government. The total investment of this project is $US320 million, including the large-scale product line with annual production capacity of 600,000 tons and the supporting liquefied chemical terminal of 50,000 DWT.
LNG Project
The total investment amounts to more than $US 2 billion, with LNG Ship Accommodation Terminal of 135,000 m3, the terminal with annual accommodation capacity of 3 million tons, gas pipes and electricity plant of 2.4 million kw.
Besides the above projects, there are more than 200 enterprises making investment in Daxie coming from abroad and home, including machinery manufacturing, medicine, textile, fine chemicals, construction materials and electrical equipment and machinery, etc.
The Encouraged Investment Fields
- Petrochemical industry and fine chemicals
- Light industry and textile
- Machinery manufacturing
- Biologic techniques and medicine
- Construction materials, metallurgy and electronic and information industry
- Tourism and other tertiary industries
The incentives to foreign investors
The preferential income tax rate is of 15%. Income tax is exempted for the first two profit-earning years and half-reduced to 7.5%for the forthcoming three years, provided the operation period of the investment project is above 10 years. For investment in infrastructures like port, jetty, and etc, corporate income tax is exempted for the first five profit-earning years and half-reduced to 7.5% from the sixth year to the tenth year, given the operation period of such an investment project is above 15 years.
Profit gained by foreign investors from the investment enterprise can be remitted outside China, free of income tax.
For re-investment in Daxie with profit gained by a foreign investor from its investment enterprise, all or part of the income tax previously levied on the reinvestment portion can be refunded according to the enterprise characteristics.
For investment falling into the category of the Encouraged and the Restricted in the National Industry Direction Directory, customs duty and import related value added tax are free for import of self-contained production equipment that is within the total sum of investment.
For production-oriented projects that are coherent to the master plan of Daxie development and industry direction, Daxie loacal fiscal authority is to grant a variety of financial support which guarantee the investors to gain more profit and help expand production capacity.
Administrative Committee of Ningbo Daxie Development Zone
Ningbo Daxie Development Zone of China
P.C: 315812
Contact: Yan Pingbo Wang Wei Yang Sainan
Tel: 0086-574-86768969 86768458
Fax: 0086-574-86768433
E-mail: citicdx@mail.nbptt.zj.cn
yanpb@citic-daxie.com
Web: www.citic-daxie.com
