Ningbo's economy maintains steady growth in first five months of 2026

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

Ningbo's economy continued to grow steadily during the first five months of 2026.

Industrial production accelerated, with the value-added output of above-designated-size industrial enterprises rising 9.0 percent year-on-year. Private enterprises performed particularly well, posting an 11.7 percent increase in added value.

Ningbo-Zhoushan Port continued to perform well, handling 600 million metric tons of cargo and 19.03 million twenty-foot equivalent units (TEUs) of containers, up 0.9 percent and 9.9 percent, respectively.

Fixed-asset investment across the city grew by 0.1 percent year-on-year. Investment in core industries — digital economy, equipment manufacturing, and high-tech industries — increased by 31.2 percent, 17.5 percent, and 15.3 percent, respectively.

Consumer spending continued to recover, with retail sales reaching 225.9 billion yuan ($33.31 billion), an uptick of 2.4 percent year-on-year.

Foreign trade also showed strong resilience. Total imports and exports rose 5.4 percent to 628.6 billion yuan, led by private enterprises, which accounted for nearly 78 percent of the city's trade. Exports of electric vehicles, lithium batteries, and solar products soared 138.4 percent.