CHINA NINGBO CIXI IMP.&EXP.CORP

Founded in May 1988, China Ningbo Cixi Import & Export Company is a comprehensive foreign trade enterprise, specialized in import and export trade. It developed into Cixi Foreign Trade Group in January 1996. At present, it has about 10 trade companies and production plants in China, 5 enterprises in Poland, Japan, Hong-Kong, Chili and Russia, as well as 3 domestic affiliated companies in Shanghai, Ningbo and Shenzhen. The total import & export value of the Company in 1998 reached 145,050,000 US$, ranking the 154th among the ''500 enterprises with largest import & export value in China''. From the a/m figure, the export value amounted to 137,800,000 US$, ranking the 101st among the ''200 enterprises with largest export value in China''. Compared to the previous year, the export value increased by 34%. In respect of the total Import & export value, and in respect of export value, this company ranks first among foreign trade companies at the county level of Zhejiang Province, and first among specialized foreign trade companies of Ningbo Municipality. In Feb. 1998, the company was appraised as an advanced collective of the China''s foreign trade sector, and in Jan. 1999, it was praised in a circular issued by Moftec. The company has formed system of specialized business and series commodities. Bearings, garments, hardware, electronic household appliances are the symbolic commodities of this Group. A good momentum of development is emerging in respect of other commodities of light industry, such as handicrafts, suitcases and bags, shoes, loofah products etc. In 1998, 338 kinds of commodities of 41 categories were exported to 85 countries or regions. Among these exported commodities, oceanic trade shared 65%. The company undertakes processing with imported materials and with client''s materials, compensation trade, activities of import & export business, absorbing of foreign investment, projects of international economic and technical cooperation, labor export, tourism service to Chinese citizens travelling to abroad, foreign trade related transportation, customs clearance and other businesses. The perspective objective of development of the company is to form an comprehensive enterprise with trade as its main business, industry as its basis, backed with financial business, with industrialization of enterprises, internationalization of business operation and contemporary management. The aim of the company''s business operation is ''reputation, diligence, high efficiency and sincerity to own business''.