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It's Happening....

High-tech industry in Ningbo grows rapidly

According to the newly released result of the economic development driven by science and technology, in the first half of this year, Ningbo achieved a total added value of 64.923 billion yuan and a new product output volume of 155.86 billion yuan for the high-tech industry, up by 11.04% and 18.82% respectively over the same period of last year. The added value of the high-tech industry accounted for over 40% of the total added value of the large-scale industries.

Beilun District and Fenghua District are two cases for the citys industrial innovation. From January to June this year, Beilun District achieved a growth rate of 21.14% for added value. While Fenghua District achieved a growth rate of 30% for output value and 20% for added value. They ranked No.1 respectively for added value growth and output value growth among all the districts and counties in Ningbo.

The high-tech enterprises have been the source of power for the development of the high-tech industry. In the first half of this year, the total output value and the output value of the new products of the 1212 high-tech enterprises both achieved a growth rate of over 20%.

After Ningbo became the first pilot city for Made in China 2025 and a demonstration area for the national technological achievement transfer and transformation, it has achieved extended innovative chain and industrial chain as well as accelerated transfer of the technological achievements. In the first half of this year, the high-tech industry in Ningbo had an output value of 156 billion yuan for the new products, up by 18.82% over the same period of last year. There were 707 registered technological contracts, with the contractual volume of 742 million yuan, up by 61%, and 979 absorbed technological contracts, with the contractual volume of 1.249 billion yuan, up by 88%.

The enterprises concerned have enhanced their profit by paying much attention to the investment in technological development and research. In the first six months, the high-tech enterprises invested over 8.7 billion yuan in R&D, up by over 24%. They achieved a total major business income of 220 billion yuan, up by about 30%, with the total profit volume of 21.2 billion yuan, up by 22.6%.

The rapid growth of the high-tech industry has greatly activated the investment passion of the whole society. So far, there have been 377 registered angel investment organization (or investors), with the investable capital of 11.9 billion yuan. With the newly added 15 investment projects guided by the angel fund, there have been 165 investment projects in total, with a contractual value of 136 million yuan, leading to a social capital investment of 1.58 billion yuan

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