Ningbo achieves positive economic growth Jan-Nov

chinadaily.com.cn| Updated:  December 20, 2023 L M S

Ningbo in East China's Zhejiang province has reported positive economic growth from January to November, according to the latest data released by local statistics authorities.

During this 11-month period, the added value of above-designated-size industrial companies in Ningbo grew by 6.4 percent year-on-year, reaching 482.38 billion yuan ($67.6 billion).

By the end of November, local financial institutions in Ningbo reported a balance of 3.41 trillion yuan in deposits and 3.78 trillion yuan in loans, reflecting year-on-year growth rates of 9.9 percent and 15.2 percent, respectively. 

The cargo throughput at Ningbo Zhoushan Port during the same period reached 1.23 billion metric tons, with the Ningbo port area contributing 620 million tons. These figures represent respective increases of 5.6 percent and 4.9 percent. Additionally, the container throughput at the port amounted to 32.8 million TEUs, including 29.91 million TEUs in the Ningbo port area, showing year-on-year growth rates of 4.9 percent and 3.3 percent, respectively.

Fixed asset investment in the city expanded by 8.2 percent during the 11-month period. Notably, infrastructure investment showed significant growth, with ecological protection, urban renewal, and water conservancy facilities increasing by 38.6 percent, 44.9 percent, and 7.1 percent, respectively. Investment in the manufacturing industry rose by 7.1 percent, while real estate development investment jumped by 4.5 percent. The core industries of the digital economy saw substantial growth in investment, with a 47.7 percent increase, while high-tech industries witnessed a 13.2 percent increase. However, the sales area of commercial housing decreased by 17 percent, amounting to 8.39 million square meters.

The city's total retail sales of consumer goods during the 11-month period were valued at 473.26 billion yuan, representing a year-on-year increase of 6.2 percent.

Regarding foreign trade, Ningbo's total import and export volume from January to November reached 1.17 trillion yuan, showing a slight increase of 0.8 percent year-on-year. Breaking down the figures, exports amounted to 764.5 billion yuan, increasing by 1.2 percent, while imports remained relatively stable at 408.5 billion yuan compared to the same period last year. Private enterprises accounted for 75.4 percent of the city's total import and export volume, reaching 884.4 billion yuan, with a growth rate of 4.8 percent.