The city landscape of Ningbo, East China's Zhejiang province [Photo/IC]

The regional GDP of Ningbo in East China's Zhejiang province hit 1.07455 trillion yuan ($147.8 billion) in 2018, up 7 percent year on year and 0.4 percent higher than the national average in terms of growth, according to an announcement by local authorities on Jan 24.   

It makes the city the second in Zhejiang and 15th in China to join the nation's "1-trillion-yuan club".

Notably, its manufacturing industry gained momentum last year, with the added value of its major industrial enterprises realizing a year-on-year increase of 6.3 percent, at around 373 billion yuan. 

The Ningbo-Zhoushan Port saw its cargo throughput exceeding 1.08 billion metric tons and container throughput surpassing 26.35 million twenty-foot-equivalent units, up 7.4 percent and 7.1 percent from a year earlier. 

The value of the city's imports and exports totaled 857.63 billion yuan in 2018, up 12.9 percent year on year. It approved 623 foreign-funded projects, 68 more than the previous year, with the actual inflow of foreign capital reaching $4.32 billion, a year-on-year increase of 7.2 percent.