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20 Ningbo Enterprises Rank Among “Top 100

Most Innovative Companies in Zhejiang”

The 2023 Zhejiang Top 100 Most Innovative Enterprises list was recently released, with 20 enterprises from Ningbo making the list—two more than last year—ranking second in the province. Among the top 50, Ningbo enterprises secured 11 spots.

In July 2023, Ningbo issued an action plan to improve the quality of high-value invention patents, proposing to pioneer new paths for cultivating high-value patent portfolios in the province. Increased funding was allocated, with support provided through projects to encourage innovation entities to develop high-value patent portfolios. “This initiative has proven highly attractive to innovative enterprises. By October 2023, nearly 90 enterprises had submitted applications for 77 projects,” according to an official from the Municipal Market Supervision Bureau. Ultimately, 20 projects were selected as the next round of cultivation initiatives, with one base and seven projects approved as provincial-level high-value patent portfolio cultivation bases and projects.

According to the latest data from the National Intellectual Property Administration, by the end of June 2024, Ningbo’s ownership of high-value invention patents will rank second in Zhejiang, with 20.48 high-value invention patents per 10,000 people, achieving the “14th Five-Year Plan” target ahead of schedule.

Among the 20 Ningbo enterprises listed, manufacturing enterprises dominate. The city’s “361” trillion-level industrial clusters showcase its industrial competitiveness. Within the trillion-level clusters of the digital economy, green petrochemicals, and high-end equipment, 11 top 100 enterprises are represented, including Geely Automobile Research Institute (Ningbo) Co., Ltd. and Semiconductor Manufacturing International Corporation (Ningbo) Co., Ltd. Additionally, nine companies are recognized as national single-product champions, such as Ningbo Fotile Kitchenware Co., Ltd. and Ningbo AUX Electric Co., Ltd., which lead innovation in the smart home appliance industry and rank among the top ten on the list. Furthermore, 17 enterprises are high-tech companies, accounting for 85%, and 18 are private enterprises, representing 90%. Ningbo’s government departments provide high-quality, low-threshold services, creating fertile ground for private enterprises to play a key role in innovation.

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