Ningbo sees steady economic growth during 14th Five-Year Plan

Ningbo, Zhejiang province. [Photo/WeChat account: nbfb0574]

During the 14th Five-Year Plan (2021-25), Ningbo recorded solid and steady economic growth, with its gross domestic product (GDP) expanding at an average annual rate of 5.9 percent.

The achievements were highlighted on the morning of Jan 21 at the opening of the sixth session of the 16th Ningbo Municipal People's Congress, where Mayor Tang Feifan delivered the government work report.

According to the report, Ningbo has firmly implemented the new development philosophy and accelerated the development of modern industrial clusters, significantly strengthening its overall economic performance.

Over the past five years, the city's GDP rose from 1.31 trillion yuan ($188.05 billion) to 1.87 trillion yuan, lifting Ningbo to 11th place among Chinese cities.

All districts and county-level cities surpassed the 100-billion-yuan GDP threshold. Per capita regional GDP increased from 140,000 yuan to 190,000 yuan, while general public budget revenue consistently ranked among the top 10 nationwide.