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Ningbo’s GDP per capita in 2019 reached US$21,000

According to the statistics from Ningbo Statistics Bureau and Ningbo Investigation Team of the National Bureau of Statistics issued on January 22, in 2019, Ningbo achieved a total GDP of 1.19851 trillion yuan, up by 6.8% over the previous year, 0.7 percentage point higher than the national growth. The GDP per capita stood at 143,000 yuan, that is, about US$21,000.

“The economy is running smoothly on an overall basis. And in a steady and progressive way, the industrial development is picking up.” said a person in charge from Ningbo Statistics Bureau. The solid promotion of the high-quality development and the continuous improvement of people’s livelihood have laid a solid foundation for the high-level comprehensive construction of a well-off society of the city. 

The industrial production has rebounded steadily.

In 2019, the industrial added value of the large-scale industries of Ningbo stood at 399.15 billion yuan, an increase of 6.4% year-on-year. Of the 35 industrial categories, 29 maintained positive growth of added value. Nine out of the top ten industries witnessed the growth of added value. Among others, the added value growth of computers, communications and other electronic equipment manufacturing industry rose by 16.5%. Among the 236 products listed in the main product catalog, 106 witnessed positive growth. The “246” billion-level industrial clusters achieved a total industrial added value fo 317.07 billion yuan, up by 7.3% over the previous year, 0.9 percentage point higher than that of the large-scale industries.

The service industry has seen a stable development. In 2019, the added value of the service sector of Ningbo increased by 7.6% year on year, accounting for 49.1% of GDP, an increase of 1.0 percentage point over the previous year. The profit service sector and the non-profit service sector grew by 9.9% and 9.3% respectively. The commodity sales of the whole year stood at 2.97922 trillion yuan, and the balance of RMB/foreign currency deposits and the balance of loans of financial institutions in the city reached 2.09 trillion yuan and 2.22 trillion yuan, respectively.

Among the top three driving forces for economic growth, the fixed asset investment and foreign trade exports performed well. In 2019, Ningbo’s fixed asset investment increased by 8.1% over the previous year, with the private investment increasing by 6.1%. In terms of investment categories, infrastructure investment grew by 7.5%, industrial investment, by 10.5% and investment in real estate, by 7.3%. The total volume of imports and exports for the whole year was 917.03 billion yuan, up by 6.9% year on year, of which exports grew by 7.6%, and Ningbo’s proportion of foreign trade exports against the state total increased to 3.46% from 3.38% the previous year. The consumer market was stable, with the city’s total retail sales of consumer goods amounting to 447.37 billion yuan, up by 7.7%.

The driving effect of innovation has become obvious. In 2019, the R&D input of large-scale industrial enterprises reached 33.68 billion yuan, up by 13.7% over the previous year. The output value of new products reached 605.91 billion yuan, up by 10.3%, with a contribution rate of 92.3% to the growth of the entire industrial output value.

According to Ningbo Statistics Bureau, in 2020, Ningbo will adhere to the new development concept and implement fully such national strategies as the integrated development of the Yangtze River Delta area, in accordance with the high-quality development requirements. It will continue to stabilize the development of enterprises, increase developing momentum and make up the “short boards”, to promote the stable economic and social development

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