Ningbo leads the way in promoting 'common prosperity'

Ningbo in East China's Zhejiang province has been actively participating in the provincial initiative to achieve common prosperity. 

In June 2021, the Chinese Communist Party Central Committee and the State Council unveiled a guideline aimed at transforming Zhejiang into a demonstration zone for common prosperity. According to the guideline, the province aims to reach the per capita GDP and income levels of developed countries by 2035.

To achieve this goal, Zhejiang has implemented a program that encourages developed areas, primarily located along the province's coast, to support less developed mountainous regions. As an economic powerhouse in Zhejiang, Ningbo has been providing sustained support to cities such as Lishui and Quzhou.

For 20 consecutive years, Ningbo has received an "excellent" rating in the provincial assessment for its efforts to implement the "sea-mountain" cooperation program.

Over the past two decades, Ningbo has initiated a total of 1,754 industrial cooperation projects in Lishui and Quzhou, with a total investment of 112.59 billion yuan ($15.67 billion). These projects aim to strengthen traditional industries and foster the development of emerging industries in the two regions.

Over the past year, Ningbo-based Konfoong Materials International Co Ltd invested 1 billion yuan in a key component industrialization project in Lishui, which is expected to achieve an annual output value of 1.5 billion yuan and contribute 110 million yuan in taxes.

The jointly-established Lishui Technician College, supported by Ningbo and Lishui, successfully enrolled students within the scheduled 11-month timeframe. Currently, the college has nearly 3,500 students and has become a catalyst for the transformation and upgrading of enterprises in Lishui.