Ningbo's economy maintains steady growth in Jan-July

Ningbo's economy maintained steady growth in the first seven months of 2026, with stable production, expanding emerging industries, and continued momentum in foreign trade, according to the Ningbo municipal bureau of statistics.

Industrial production remained robust, with value-added industrial output from above-designated-size enterprises rising 8.6 percent year-on-year. Automotive manufacturing and computer, communications and other electronic equipment manufacturing grew 30.4 percent and 12.7 percent, respectively. High-end equipment, high-tech, and digital economy core industries recorded double-digit growth.

The service sector also expanded steadily. From January to June, operating revenue of above-designated-size service enterprises increased 6.4 percent, while technology and high-tech services grew 7.7 percent and 8.3 percent, respectively.

Investment in manufacturing rose 8.6 percent, while infrastructure investment increased 7.3 percent. Investment in digital economy core industries surged 37.7 percent.

Consumer spending continued to expand, with retail sales reaching 326.6 billion yuan ($48.57 billion), up 2.9 percent.

Foreign trade was a major highlight. Ningbo's total imports and exports reached 906 billion yuan, up 7.5 percent. Private enterprises accounted for 78.4 percent of the city's total imports and exports, while combined exports of the "new three" products - electric vehicles, lithium-ion batteries, and photovoltaic products - surged 128.3 percent.