Industrial Economy in Ningbo Witnesses Continuous Rebound
- Details
- Category: Ningbo Business
- Published: Tuesday, 11 October 2016 09:55
Since the beginning of 2016, the industrial economy in Ningbo has risen steadily, remaining to be a major force driving overall economic growth. From Jan. to Aug., industrial added value has registered 177.64 billion, a year-on-year increase of 8.1%. The performance of the enterprises has been improving while new momentums keep pooling in.
In terms of the industry, arising momentums like new industries, business modes and entities successfully replace old ones to become new engines for steady growth. From Jan. to Aug., the added value of strategic emerging industries has increased by 10 % compared with the same period last year. High-end equipment manufacturing and the new material industry that have been prioritized separately rise by 9.3% and 9.5%, overtaking the average increase of industries above a designated scale in Ningbo. Scientific and technological innovation further releases the potential for advancement. The expenditure on science and technology of above-scale industries has grown by 16.3%, marking a year-on-year increase of 11.4 percentage points. The output value of new products has risen by 14.9% from the same period in 2015, which thereby promotes that of above-scale industries by 4.2 percentage points. The ratio of output value of new products stands at 30.9%, increasing by 2.6 percentage points year on year.
As for industrial production, a relatively rapid development has been maintained. Till August, the industrial added value of industries above a designated scale has grown by 8.1% year on year. In August, an increase of 0.4 percentage points was registered compared with that of the past 7 months and of 1.0 percentage points compared with that of the first half year.
As for the performance of enterprises, profits and taxes contributed by above-scale industries in Ningbo has overall reached 108.9 billion yuan from Jan. to Aug., a year-on-year rise of 14.9%, among which the total profits have stood at 60.63 billion yuan, a year-on-year rise of 27.5%.
Till August, Ningbo has boasted outbound investment of 2.76 billion USD, increasing by 69.3% year on year. The figure has overtaken the total amount registered in 2015, accounting for 98.7 % of the target set for 2016.
Since the beginning of 2015, enterprises in Ningbo has accelerated their pace of going global. In 2015, the outbound investment reached 2.51 billion USD, a year-on-year increase of 36%. In 2016, Ningbo remains a pacesetter in Zhejiang Province with respect to outbound investment, contributing to 50% of the investment of Zhejiang, a rise of 10% from 2015.
It is known that till August, enterprises in Ningbo has taken part in 27 cross-border mergers and joint stock projects with the total investment surpassing 570 million USD. Central and eastern European countries are hot spots, where three enterprises has been established and two projects developed with an investment of 160 million USD till August. The manufacturing industry has taken a leading role in outbound investment, injecting 770 million USD, a year-on-year rise of 86.1%.
