Ningbo overtakes Guangzhou in terms of total export value in 2019, ranking fifth nationwide, behind only Shenzhen, Shanghai, Suzhou, and Dongguan.[Photo/cnnb.com.cn] 

Ningbo overtook Guangzhou in terms of total export value in 2019, ranking fifth nationwide, behind only Shenzhen, Shanghai, Suzhou, and Dongguan. 

The city in East China's Zhejiang province saw stable growth in foreign trade last year despite international trade uncertainties.

The value of the city's imports and exports surged 6.9 percent to 917.03 billion yuan ($132.9 billion).

Its imports rose 5.8 percent year-on-year to 320.06 billion yuan, while its exports climbed 7.6 percent to 596.96 billion yuan, accounting for 3.46 percent of the nation's total. 

The growth rate of its exports was the second fastest nationwide only behind Dongguan. 

Ningbo, a renowned foreign trade hub in China, has had a foreign trade value of more than $100 billion yuan for seven years in a row now. 

The China Customs magazine ranked Ningbo eighth on a list of the top 100 foreign trade cities in China in 2018. It ranked first in Zhejiang. 

Last year, a total of 5,310 new foreign trade enterprises were registered in Ningbo, bringing the city’s total of number of foreign trade companies to 47,280. 

Private businesses still account for the lion's share of the city’s foreign trade.

Official data shows that private enterprises accounted for 74.1 percent of the city's total exports and 55.6 percent of its total imports.

The city's trade structure continued to improve with the expansion of high-tech products. 

Exports from Ningbo were primarily mechanical and electrical products, which accounted for 56.3 percent of the city’s total exports, 0.4 percent higher than the previous year 

The city has trade ties with 225 countries and regions. 

The value of its trade with Belt and Road countries rose 28.6 percent to 263.36 billion yuan in 2019, while trade with central European countries rose 8.4 percent to 28.48 billion yuan. 

Chen Yongjun, professor of the business school of Remin University of China, said that Ningbo's robust rise in exports was within expectations, as the city has strong manufacturing capabilities.

The city has long led the world in sales of more than 160 commodities, including garments, fasteners, batteries, vacuum cleaners, and stationery, according to Chen.