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Ningbo ranks 12th nationwide in economic output in H1

chinadaily.com.cn| Updated: August 17, 2021 L M S

Ningbo's gross domestic product (GDP) stood at 664.06 billion yuan ($102.16 billion) in the first half of this year, a year-on-year uptick of 13.1 percent, according to preliminary statistics recently released by the Ningbo Bureau of Statistics.

The economic output was ranked 12th among cities in China, while the growth rate was ranked 10th in the nation along with Chengdu, capital city of Southwest China's Sichuan province.

The industrial output value of enterprises above designated size in Ningbo amounted to 1.04 trillion yuan from January to June, up 29.6 percent year-on-year. This was the first time the city saw its industrial output value exceed 1 trillion yuan in the first half of the year.

The purchasing managers' index (PMI) for Ningbo's manufacturing sector had expanded 13 months in a row, indicating an increasing confidence among market entities.

The city's investment in fixed assets and foreign trade also showed good performances over the six-month period.

From January to June, the city's investment in fixed assets achieved a year-on-year growth of 16.4 percent, 2.6 percentage points higher than that of the first quarter.

Investment in the manufacturing sector in Ningbo surged 39.8 percent year-on-year, while investment in the real estate increased by 20.5 percent.

Over the six-month period, the added value of the tertiary industry in the city reached 335.31 billion yuan, ranking 16th in the country.

Robust growth was seen in sectors including lodging and catering, wholesale and retail, information transmission, software and information technology services, as well as transportation, storage and postal services.

The city's imports and exports rose 30.7 percent year-on-year to 563.89 billion yuan, with exports increasing 28.4 percent to 358.16 billion yuan, accounting for 3.64 percent of the nation's total.