A workshop in Ningbo, East China's Zhejiang province. [Photo/WeChat account: nbfb0574]

Ningbo in East China's Zhejiang province recently released a string of goals related to the development of its manufacturing sector during the 14th Five-Year Plan (2021-25) period.

According to the plans, the city aims to cultivate a Fortune Global 500 company and 20 Top 500 Manufacturing Enterprises in China by 2025.

It has also set the goal of fostering or introducing 100 manufacturing enterprises with the highest market share in their niche markets in the nation during the five-year period.

By 2025, Ningbo will cultivate another 50 listed manufacturing companies, increasing the total market value of the city's listed manufacturing companies to more than 1.6 trillion yuan ($246.15 billion).

Meanwhile, efforts will be ramped up to facilitate the digital transformation of the manufacturing sector.

Local authorities plan to construct an additional 15 provincial "future plants" and 400-plus digital workshops, thus completing the digital upgrading of all industrial enterprises above a designated size from the city.

The city is also set to strengthen the protection of intellectual property rights. By 2025, the total number of domestic well-known trademarks should exceed 110 and the total number of valid invention patents should be increased to over 45,000.

Efforts will be made to improve local manufacturers' production efficiency. The output value of enterprises above a designated size is targeted to hit 550,000 yuan per mu, while their added value per mu should reach 2 million yuan.

The five-year period will also see the city construct 500 green plants at the provincial level or above and the phasing out of 1,000 enterprises with backward capacities.