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Ningbo Development and Investment Group
Ningbo Development and Investment Group is an asset manager based in Ningbo, founded 1992; the Altss profile covers its classification, headquarters,...
Overview
Ningbo Development and Investment Group is a China-based investment company headquartered in Ningbo. It is located in Ningbo, China.
General information
Firm type
Generalist
Year founded
1992
Location
Region
Asia
Country
China
City
Ningbo
Corporate office
Floor 16-22, Building B, Development Building, No. 187 Changle Road, Yinzhou District, Ningbo, Zhejiang, China
Principals
Ningbo Municipal People's Government
Founder and Ultimate Controlling Entity via SASAC
Sector focus
Frequently asked questions
Who controls Ningbo Development and Investment Group?
The Ningbo Municipal People's Government is the ultimate controlling entity, exercising ownership through the State-owned Assets Supervision and Administration Commission (SASAC). The group functions as a municipal capital operation platform, meaning investment and divestment decisions align with the city's fiscal and industrial policy directives.
What is the group's relationship to Bank of Ningbo?
Ningbo Development and Investment Group is one of the largest shareholders of Bank of Ningbo, a Shenzhen-listed city commercial bank. Other major shareholders include Singapore's OCBC Bank and the Youngor Group. The bank had total assets of approximately RMB 2.71 trillion as of year-end 2023 (per Bank of Ningbo annual report, 2023).
Why does a state-owned asset manager own a professional basketball team?
The Ningbo FUBANG Men's Basketball Club, which competes in the Chinese Basketball Association, serves as a municipal branding asset. For Chinese local governments, owning a top-tier sports franchise signals civic prestige and supports urban development goals, particularly in second-tier cities competing for talent and investment.
Is the group's financial information publicly available?
The group does not publish standalone financial statements as a matter of routine. Some portfolio-level data is accessible through the public filings of Bank of Ningbo, but the consolidated balance sheet, total assets under management, and investment returns of Ningbo Development and Investment Group are not publicly disclosed.
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