As one of the initial American investors in Ningbo, I have had the unique opportunity to witness the city's rapid economic and infrastructural developments. Ningbo is located at the middle portion of China's coastline, bordered by Shanghai and Hangzhou. It is an independent planning-city enjoying the same rights as those of a provincial government in economic management. As a result, Ningbo is entitled to formulate local laws and regulations. Ningbo City not only boasts of a rich historical and cultural background, but it is also one of the six key coastal cities that has helped open modern China to the world. Its cargo handling capacity reached 150 million tonnages in 2002, ranking second among the ports in the mainland of China, and its container handling capacity amounted to 1,855,000 TEU. Besides its attractive geographical location and unique political position in China, Ningbo also offers the investors with quality transportation and communication infrastructures, preferential investment policies, and supportive local government services.
　　
　　While I first came to Ningbo from U.S.A for the establishment of Ningbo Smart Pharmaceutical Co., Ltd in 1993, Ningbo was a mid-sized city that was still adjusting to its status as a center for foreign investment. Cultural difference, inconsistent investing policies, and the lack of personnel presented operational difficulties for new companies. In order to stimulate the economy and encourage further investment, Ningbo's municipal government reformed the city's policy and infrastructure. After a decade of development, the city's economic infrastructure is now very supportive of foreign investors.
　　
　　Our company--Ningbo Smart Pharmaceutical Co., Ltd (Ningbo Smart) was founded in 1991 and has grown alongside the city we named our company after. Within ten years, the company has expanded to become one of the largest Active Pharmaceutical Ingredient (API) producers and exporters in China. Our products have been recognized in the international pharmaceutical market for their consistent high quality. We are the only Mefenamic Acid manufacturer that has obtained C.O.S Certificate worldwide and the first one in China who received the C.O.S for Diclofenac Sodium. We have also registered our products in many European companies such as the United Kingdom and Denmark. Our export volume has increased annually. In 1995, with the inducement of the local reinvestment policy, we established another company called Ningbo Harvest Chemical & Industrial Co., Ltd (Ningbo Harvest). Ningbo Harvest mainly produces resins and treatment agents for the domestic artificial leather industry. This has proven to a very profitable business venture.
　　This year we established two new companies: Ningbo Apex Chemical & Technology Co., Ltd. and Ningbo Harvest Polymer & Technology Co., Ltd. which covers the area of 100 acres and with the capital investment of USD 20,000,000. The increase of our investment and the rapid expansion of our business holdings are largely dependent on the favorable investment support found in Ningbo's local population and government.
　　
　　Even with this rapid investment, our board of directors intends to further increase our local investments in Ningbo, because we believe in Ningbo.