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Innovation fuels economic growth in Ningbo

chinadaily.com.cn| Updated:  August 19, 2019 L M S

Ningbo has grown into a robust innovative city over the past 70 years, since the foundation of the People's Republic of China, said Huang Zhiming, head of the Ningbo Municipal Bureau of Science and Technology.

Huang made the remarks at a government press conference on Aug 15 which focused on the city's scientific and technological innovation.

Official data shows that Ningbo has thus far established or brought in more than 60 high-level research and development institutions and founded nine international cooperation bases for science and technology. To date, it has established links with more than 350 R&D organizations from over 100 countries worldwide.

In a bid to bolster innovation, the city has also sought to cultivate and attract more talents. In 2018, its net inflow rate of middle- and high-end talents ranked second among all cities nationwide.

Emerging technologies such as AI, advanced materials, aerospace, biotechnology, and 5G, have been developing rapidly in the city thanks largely to the support of local authorities.

In recent years, the city has been devoted to creating an environment conducive to start-ups. As of the end of 2018, a total of 12,524 innovative start-ups and 865 small-and medium-sized technology enterprises have set up in the city.

The city has also been investing heavily in scientific research and development, spending 24.19 billion yuan ($3.44 billion) in 2017, accounting for 2.46 percent of its regional GDP.

Ningbo will work to bring about an industrial revolution in the city and contribute to the development of science and technology both in Zhejiang and the country as a whole, Huang noted.


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