Ningbo reports steady economic growth in 2017

Updated:2018-01-25 (chinadaily.com.cn)

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On Jan 23, Ningbo in East China's Zhejiang province released its economic figures for 2017.

The official figures from the local statistics office show that over the past year, the city earned 984.69 billion yuan ($155.39 billion) in GDP, an increase of 7.8 percent from the previous year. GDP in primary industry reached 31.41 billion yuan, secondary industry reached 510.55 billion, and tertiary industry reached 442.73 billion.

The total value of exports in Ningbo in 2017 was 760 billion yuan, an increase of 21.3 percent from the previous year, while its imports were valued at 261.6 billion yuan, up 37.3 percent from the previous year.

The city earned a total fiscal revenue of 241.58 billion yuan last year, up 12.4 percent from 2016.

In general, the economic growth of the city has been strong and steady, according to authorities. Most indexes are better than expected. However, due to the complicated and constantly-changing economic environment, there are still a few problems that need to be dealt with, such as imbalance and insufficiency. In the next phase of development, the city will focus on supply-side reform and spare no effort in working toward a better future.