NINGBO city in China’s Zhejiang province is sending a business delegation in the Philippines by middle of this year to look into possible investment opportunities with particular interests in garments and electrical equipment, said the Philippine Consulate in Shanghai.

Philippine Consul General to Shanghai Maria Rowena Mendoza Sanchez along with a Philippine business delegation met early this week with Ningbo City Vice Mayor Cheng Yuechong and officials of the China Council for the Promotion of International Trade Ningbo Subcouncil and discussed ways to promote Philippines-Ningbo trade, investment and tourism relations.

Ningbo is located south of Shanghai with a total population of 9 million. It has a gross domestic product (GDP) of about $48 billion and a per capita GDP of over $8,000.

“[T]he opening of the Hangzhou Bay Bridge in early May which effectively cuts the travel time between Shanghai and Ningbo from four hours to two hours will further spur growth in the city and would make it an ideal destination for Philippine business and investment aside from Shanghai,” said Sanchez in her report to the Department of Foreign Affairs (DFA).

She said Ningbo’s port is the second- largest in China and the fourth-largest port in the world.

Sanchez and the Philippine business delegation also met with officials of the Ningbo Jiangbei Chuangxin Electric Appliance Co., one of the leading manufacturers of small home appliances in China.

She said the delegation also visited the Youngor headquarters in Ningbo. Youngor is one of the world’s biggest production bases for men’s garments with a production of 80 million suits each year, said Sanchez.

The garments firm has acquired Xin Ma Apparel International, a $120-million investment early this year. It has production bases in the Philippines. Youngor also has a real-estate business which accounted for nearly one-third of Youngor’s sales of $478 million in 2007.

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AMID the Philippine Electricity Market Corp.’s readiness to operate the power market in the Visayas, the Department of Energy (DOE) said Tuesday it has deferred the proposed launching of the Visayas Wholesale Electricity Spot Market (WESM).

NINGBO city in China’s Zhejiang province is sending a business delegation in the Philippines by middle of this year to look into possible investment opportunities with particular interests in garments and electrical equipment, said the Philippine Consulate in Shanghai.

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DAGUPAN CITY—Agriculture Secretary Arthur Yap has tagged Pangasinan as one big sleeping giant in agriculture even as it now lags far behind in the production of rice, corn and vegetables over the years.

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