Copyright 2024 - Ningbo Life / Ningbo Expat

Notable successes attained for Ningbo's industrial supply-front reform

It is learned from Ningbo Commission of Economy and Information Technology that for the first three quarters this year, the industrial production has restored the steady growth with the notable successes attained by the supply-front reform in industry. Both the emerging industries and the traditional strong industries have developed well, with their added values both increasing by over 8%.

Industrial transformation and upgrading has been the main battlefield for the supply-front reform. Since the beginning of this year, Ningbo has taken a variety of measures with great achievements. In the first eight months, the major business cost and the financial cost of the large-scale enterprises have been in the decline, and the ratio between cost and income has continued to decrease. The stock and capital leverage pressures have been alleviated.

Meanwhile, the rising of the emerging industries have brought about new power for development. In the first three quarters, the added value of the strategic emerging industries exceeded 34.7 billion yuan, up by 9.5% over the same period of last year. The high-end equipment manufacturing and the new materials industry grew by 10.0% and 8.2% respectively. Among other areas, the Hangzhou Bay New Zone stood out with such six advanced manufacturing industries as auto and high-end equipment achieving a total output value of 62 billion yuan, up by 20%, accounting for about 80% of that of the local large-scale enterprises.

The traditionally strong industries have accelerated their reform and improvement. From January to September, the added values of the green petrochemical industry and the fashion manufacturing rose by 14.3% and 10.3% respectively.

f t g m