Ningbo sees fast growth in high-tech enterprises

A total of 1,667 enterprises from Ningbo, East China's Zhejiang province were designated as high-tech companies in 2020, accounting for 53.7 percent of the city's total, official data shows.

As of the end of last year, Ningbo was home to 3,102 high-tech enterprises, ranking 18th in the nation.

Although the total number of high-tech enterprises in Ningbo is still much smaller than first-tier cities like Beijing, Shenzhen, Shanghai and Guangzhou, the growth momentum in this aspect has been notable. Official data shows the number of high-tech companies in Ningbo increased from 1,212 in 2015 to 3,102 in 2020, while medium- and small-sized tech companies rose from 6,982 to 14,300 over the same period.

By the end of 2020, Ningbo was home to 66 provincial maker spaces, 32 State-level enterprise technology centers and 12 State-level business incubators.

Talent introduction has been playing a pivotal role in bolstering the growth of high-tech enterprises in Ningbo.

In 2020, 1,372 doctors and 67,000 high-tech skilled workers were cultivated or introduced to the city, bringing the total number to 9,265 and 551,000 respectively.

A total of 166,000 college graduates sought employment or started businesses in Ningbo, an increase of 20.5 percent year-on-year.

The local government has set the goal of lifting the total number high-tech enterprises to 8,000 by 2025, with 60 percent of companies from the city making R&D investments, according to a guideline recently unveiled by the city in July to bolster scientific and technological innovation during the 14th Five-Year Plan (2021-25) period.