Ningbo posts stable economic growth Jan-Aug

A view of Ningbo in  East China's Zhejiang province. [Photo/VCG]

Ningbo in East China's Zhejiang province saw a stable economic uptick in the first eight months of this year thanks to a package of policies rolled out by government to stabilize the economic growth amid the epidemic, according to latest data from local statistics authorities.

Steady growth of the city's industrial production during the eight-month period. The added value of industrial enterprises above designated size in Ningbo amounted to 350.5 billion yuan (53.92 billion), up 4.8 percent year-on-year.

Twenty out of 35 major industries in the city reported positive growth in added value. Robust growth was seen in sectors including computer communications, chemical raw materials and products and automobile manufacturing, whose added value grew 17.7 percent, 13.2 percent and 12.3 percent, respectively.

From January to August, the sales volume of above-designated-size companies in Ningbo totaled 1.56 trillion yuan, an increase of 10.9 percent. In addition, the amount of exports during the period expanded by 6.3 percent to 281.67 billion yuan.

As the world's largest port by cargo throughput volume, Ningbo Zhoushan Port handled 860 million metric tons of cargo, up 4.1 percent.

During the same period, the city's investment in fixed assets achieved a year-on-year growth of 10.4 percent.

Consumption continued to pick up in Ningbo. From January to August, the total retail sales of consumer goods in the city reached 306.57 billion yuan, an increase of 5 percent year-on-year and 1.1 percentage points higher than that of January to July.

Notably, sales of new energy vehicles registered a 174.3-percent increase in the city during the eight-month period.

Its foreign trade volume rose by 12.3 percent to 858.02 billion yuan during the period. Specifically, its exports jumped by 14.9 percent to 559.52 billion yuan, while imports hit 298.5 billion yuan, up 7.8 percent. Over the same period, imports and exports of local private enterprises were valued at 614.36 billion yuan, making up 71.6 percent of the city's total.

Ningbo's general public budget revenue reached 128.54 billion yuan, a decrease of 3.5 percent, while its general public budget expenditure hit 146.77 billion yuan, up 22.9 percent.