Ningbo's GDP exceeds 1.24 trillion yuan in 2020
Ningbo's gross domestic product (GDP) totaled 1.24087 trillion yuan ($190.9 billion) in 2020. [Photo/VCG]
Ningbo's gross domestic product (GDP) totaled 1.24087 trillion yuan ($190.9 billion) in 2020, a yearly uptick of 3.3 percent, according to preliminary statistics released by the Ningbo Bureau of Statistics on Jan 26.
The added value of the city's primary, secondary, and tertiary industries reached 33.84 billion yuan, 569.39 billion yuan, and 637.64 billion yuan, representing a growth of 2.1 percent, 3 percent, and 3.6 percent, respectively.
The industrial added value of enterprises above the designated size in Ningbo expanded 5.2 percent year-on-year, 2.8 percentage points higher than in the first three quarters of last year.
Their combined profits stood at 155.27 billion yuan, up 17.7 percent year-on-year.
Emerging sectors including health manufacturing, artificial intelligence, high-tech manufacturing, and the digital economy maintained robust growth momentum, with added value growing 15.3 percent, 14.9 percent, 13 percent and 9.7 percent respectively.
As the prime engines fueling local economic growth, investment in fixed assets and foreign trade also showed good performances.