18 Nov 2016
Ningbo (Zhejiang) City Information
|Major Economic Indicators (2015)|
|Land Area (km2)||9,816|
|GDP (RMB billion)||800.36|
|GDP Per Capita (RMB)||136,773|
|Retail Sales of Consumer Goods (RMB billion)||335.0|
|Utilised FDI (USD billion)||4.23|
|Exports (USD billion)||71.4|
|Imports (USD billion)||29.0|
Source: Zhejiang Statistical Yearbook 2016
Ningbo, a harbour city in the Zhejiang Province, is sometimes called Yong. It lies at the shore of the East Sea. Ningbo was among the first batch of coastal cities that were opened to the world. It ranked as the 21st most competitive city in China according to the Chinese Academy of Social Sciences in 2016.
Ningbo is designated as a national hub in MOFCOM’s development plan (2015-2020) of distributive trade and logistics. The Ningbo-Zhoushan Port is one of the busiest ports in China. It ranked the third in terms of container throughput in 2015, handling 20.6 million TEUs. Ningbo’s specialised dock for the storage of liquefied chemical products is the largest of its kind in China. For air transport, Ningbo Lishe International Airport has flights to major cities in China, as well as Hong Kong.
Industry is the main economic driver of the city’s economy, contributing 45% to the city’s GDP in 2015. Pillar industries in Ningbo are petrochemicals, chemicals, electrical machinery, telecom equipment manufacturing, IT and port-related industry.
Leading enterprises include Ningbo Bird, Donly Group and Ningbo Marine. Ningbo has attracted a large number of foreign investors, including large multi-national companies such as Schneider and Akzo Nobel.
Tourism is an important service industry of Ningbo. Due to its strong Buddhist connections, Ningbo has numerous historical temples and beautiful lakes that attract tourist from all around the world to the city every year.
Major Industrial Parks / Development Zones
1. Ningbo Daxie Development Zone (state-level)
Target industries: Petrochemical industries, port logistics
Major investors: Mitsubishi, PTMG, Hanwha, CNOOC, Stolt Nielsen, BP, Sinopec, Petrochina
2. Ningbo Economic and Technological Development Zone (state-level)
Target industries: Chemical, stainless steel, shipbuilding, automobiles, modern paper making, electric machinery, textiles
Major investors: ExxonMobile, Samsonite, Dow Chemical, Dupont, BP, Philips, Samsung, Mitsubishi, AXA, Sumitomo, Mitsui, Geely
3. Ningbo Free Trade Zone / Ningbo Export Processing Zone (state-level)
- Ningbo FTZ – Foreign trade, electronics and information, manufacturing and processing
- Ningbo EPZ – IC, information appliance, fine machinery
Major investors: Exxon, Mannesmann, Xerox, Dow, Sony, Hoechst, Carrefour, Unic, Marubeni, Samsung, LG, C.T. Group, AOC, Qimei
4. Ningbo High-tech Industrial Development Zone (Ningbo National Hi-Tech Zone) (state-level)
Target industries: Photovoltaics and communication, software, microelectronics
Major investors: Microsoft, Sinopec, IMP, Sanyo, Eaton, INCOS, TRW
5. Ningbo Petrochemical Econoimic and Technological Development Zone (state-level) (寧波石化經濟技術開發區)
Target industry: Petrochemicals
Major investors: Holland Akzo Nobel, Korea LG Yongxing, Japan Daicel Chemical, Juhua Chemical, Hangzhou Bay Acrylic Fibre