Ningbo's economy maintains stable growth in first four months

An aerial view of Ningbo city. [Photo/Yongpai App]

Ningbo's economy remained steady and resilient in the first four months of 2026, with new growth drivers continuing to strengthen, according to the city's statistics bureau.

From January to April, value-added industrial output from enterprises above designated size — those with annual main business revenue of at least 20 million yuan ($2.92 million) — rose 8.8 percent year-on-year, up 0.2 percentage points from the first quarter. Private enterprises played a major role, posting an 11 percent increase in value-added output. Key industries including automobile manufacturing, computer and communications equipment, and petroleum processing all achieved double-digit growth.

Emerging sectors continued to outperform the broader industrial economy. High-end equipment manufacturing, high-tech industries, and core digital economy manufacturing expanded by 15.5 percent, 13.8 percent, and 11.6 percent, respectively.

Foreign trade also demonstrated strong resilience. Total imports and exports reached 501.7 billion yuan ($73.8 billion), up 6.3 percent year-on-year. Trade with the European Union and ASEAN rose 6.9 percent and 14.4 percent, respectively, while trade with Africa increased 15.5 percent. Exports of electric vehicles, lithium batteries, and photovoltaic products surged 144.2 percent, with electric vehicle exports alone soaring 223.6 percent.

Meanwhile, consumer demand and investment continued to improve. Retail sales of consumer goods grew 2.5 percent, while infrastructure and manufacturing investment maintained solid momentum.