Authorities announce Ningbo's 2022 GDP estimates

The third session of the 16th Ningbo Municipal People's Congress commences in Ningbo, East China's Zhejiang province on Jan 6. [Photo/WeChat account: nbfb0574]

Ningbo's gross domestic product (GDP) for 2022 is estimated to hit 1.56 trillion yuan ($222.86 billion), according to the government report delivered by Mayor Tang Feifan.

Tang delivered the report at the third session of the 16th Ningbo Municipal People's Congress that commenced in the city in East China's Zhejiang province on Jan 6.

The per capita disposable income of its urban residents in 2022 is expected to surpass 77,000 yuan, while the figure for its rural residents is projected to hit 45,000 yuan.

Meanwhile, the value of the city's imports and exports for 2022 is estimated to exceed 1.2 trillion yuan. The cargo and container throughput volumes of Ningbo Zhoushan Port are expected to be around 1.25 billion metric tons and 33.35 million TEUs respectively, according to the report.

During the congress, authorities set a goal of increasing the city's GDP by more than 5.5 percent this year. They also unveiled a string of development goals for 2023, among which is maintaining the growth rate of investments in fixed assets at 8 percent, creating an additional 200,000 urban jobs, and slashing more than 33 billion yuan in financial burdens faced by enterprises, according to the report.