Ningbo's GDP tops 380b yuan in Q1

Ningbo's gross domestic product (GDP) totaled 380.18 billion yuan ($54.92 billion) in the first quarter of this year, rising 4.5 percent on a yearly basis, according to the Ningbo Municipal Bureau of Statistics.

Specifically, Yinzhou district had a GDP of 69.74 billion yuan in the three-month period, the highest out of all administrative areas in the city. It was followed by Beilun district (62.75 billion yuan), the county-level city of Cixi (59.68 billion yuan), Haishu district (37.75 billion yuan), the county-level city of Yuyao (36.17 billion yuan), Zhenhai district (32.33 billion yuan), Fenghua district (21.99 billion yuan), Ninghai county (21.43 billion yuan), Jiangbei district (21.23 billion yuan), and Xiangshan county (17.09 billion yuan).

In terms of GDP growth rate, Ninghai topped the city with its year-on-year increase of 5.8 percent.

From January to March, the added value of Ningbo's primary, secondary, and tertiary industries reached 6.05 billion yuan, 167.74 billion yuan, and 206.39 billion yuan, up 4.9 percent, 3.3 percent, and 5.5 percent respectively.

Its retail and wholesale industry during the period generated 43.87 billion yuan in added value, an increase of 3.6 percent year-on-year.

The added value of the city's financial industry recorded a yearly uptick of 9.7 percent to 36.59 billion yuan, while the figure for the transportation, warehousing and postal service industry was 14.54 billion yuan, down 5 percent from a year ago.