Comprehensive Strength

Gross Domestic Product (GDP).

In 2023, the city’s gross domestic product (GDP) reached 1,645.28 billion yuan, an increase of 5.5 percent over the previous year at constant prices.

GDP Per Capita

The city’s per capita GDP is 170,363 yuan (equivalent to US$24,176 at the annual average exchange rate) based on the permanent population.

Fiscal Revenue and Expenditure

In 2023, the city’s total fiscal revenue will be 338.41 billion yuan, an increase of 0.8% over the previous year, of which the general public budget revenue will be 178.59 billion yuan, an increase of 6.3%. For the whole year, the city completed the general public budget expenditure of 223.51 billion yuan, an increase of 2.2 percent.

Economic Structure

Industrial Structure

In 2023, the added value of the city’s primary industry will reach 38.38 billion yuan, an increase of 4.7%; the added value of the secondary industry was 754.05 billion yuan, up by 5.7 percent; The added value of the tertiary industry was 852.85 billion yuan, up by 5.3 percent. The ratio of the three industries was 2.3:45.8:51.9.

Structure of Economic Agents

By the end of 2023, there will be a total of 1.386 million market entities in the city. There are 554,000 domestic-funded enterprises, with a registered capital of 6.6 trillion yuan; Among them, there are 524,000 private enterprises, with a registered capital of 4.9 trillion yuan. There are a total of 817,000 industrial and commercial households in the city, with a capital of 91.37 billion yuan.

Industry and Construction

Industrial Production

In 2023, the added value of the city’s industries above designated size will reach 528.82 billion yuan, an increase of 6.6% over the previous year. By type of enterprise, the industrial added value of large, medium, and small enterprises above designated size increased by 9.0 percent, 7.8 percent, and 2.7 percent respectively. By economic type, the added value of state-controlled enterprises increased by 5.3 percent, that of joint-stock limited enterprises increased by 15.3 percent, and that of private enterprises increased by 4 percent. 3%。 The annual sales output value of industrial enterprises above designated size was 23873. 300 million yuan, an increase of 1.0 percent, of which the export delivery value was 381.63 billion yuan, a decrease of 8.1 percent.

Construction

In 2023, the added value of the city’s construction industry will reach 78.40 billion yuan, an increase of 6.5% over the previous year. By the end of the year, there were 1,591 qualified construction enterprises in the city, including 17 special grades, 280 first-class enterprises, 470 second-level enterprises, and 824 third-level enterprises and below.

Services

Merchandising

In 2023, the city’s total merchandise sales will increase by 9.7% compared to the previous year. Among them, the total sales of commodities above designated size increased by 9.0 percent, and the sales of metal materials increased by 17.7 percent in terms of commodity categories; sales of chemical materials increased by 24.1%; Sales of petroleum and petroleum products decreased by 12.8%.

Retail Sales of Goods

In 2023, the city’s total retail sales of consumer goods will reach 521.26 billion yuan, an increase of 6.5% over the previous year. Among them, the total retail sales of consumer goods above designated size were 206.74 billion yuan, up by 6.2 percent.

banking

At the end of 2023, the balance of domestic and foreign currency deposits of financial institutions in the city was 3,407.16 billion yuan, an increase of 8.9% over the previous year; The balance of domestic and foreign currency loans of financial institutions was 3,813.30 billion yuan, up by 15.6 percent. At the end of the year, there were 68 banking financial institutions in the city.

Securities Industry

In 2023, the total securities turnover in the city will be 12.7 trillion yuan, an increase of 5.7% over the previous year, of which the turnover of stocks and funds will be 6.3 trillion yuan, a decrease of 4.0%. At the end of the year, the balance of securities customer transaction settlement funds was 23.93 billion yuan, down by 5.3 percent. Continued to implement the "Phoenix Action" Ningbo plan, adding 6 new domestic listed companies throughout the year, completing the initial public offering (IPO) raising of 3.24 billion yuan, and the total number of domestic listed companies reached 120 by the end of the year.

Insurance

By the end of 2023, there were 31 property insurance institutions at or above the municipal level, 26 life insurance institutions, and 85 professional intermediaries. The annual premium income was 45.52 billion yuan, an increase of 9.4% over the previous year. The annual risk protection was 65.2 trillion yuan, an increase of 43.4%. The annual compensation expenditure was 18.36 billion yuan.

Transportation

In 2023, the city’s freight volume will be 870 million tons, an increase of 9.1% over the previous year, and the cargo turnover will be 534.28 billion ton-kilometers, an increase of 12.7%. For the whole year, the passenger volume of the whole society was 92.134 million, an increase of 91.1%.

Air

In 2023, the city’s civil aviation cargo and mail throughput will be 143,000 tons, an increase of 67.4%; The passenger volume of civil aviation was 12.902 million, an increase of 109.3%.

Railage

In 2023, the city’s railway cargo transportation volume will be 34.793 million tons, a decrease of 0.7%; The railway passenger volume was 57.807 million, an increase of 95.0%.

Public Transport

By the end of 2023, there were be 9,773 standard bus operating vehicles in the city, a decrease of 1.6% over the previous year; and 1,243 operating lines, an increase of 1.4 percent. The rail transit volume grew rapidly, and the annual rail transit passenger volume was 366.279 million, an increase of 42.8%. At the end of the year, there were 6,145 taxis in the city.

Convention and Exhibition Industry

In 2023, 84 exhibition projects will be held in the city, with a total exhibition area of 1.619 million square meters, a year-on-year increase of 334%. Among them, there are 32 large-scale exhibitions with an exhibition area of more than 20,000 square meters (inclusive) with an exhibition area of 1.067 million square meters, and 21 large-scale exhibitions with an exhibition area of more than 30,000 square meters (inclusive) with an exhibition area of 831,000 square meters. It has been awarded the honorary titles of "China’s Most Competitive Convention and Exhibition City" and "China Convention and Exhibition Brand City".

Tourism

In 2023, the city’s total tourism revenue will be 87.74 billion yuan, a year-on-year increase of 8.8%. 65.795 million domestic tourists were received, an increase of 27.8 percent; Domestic tourism revenue reached 87.4 billion yuan, an increase of 8.4 percent. It received 155,000 inbound tourists and completed inbound tourism revenue of 47.575 million US dollars. At the end of the year, there were 74 star-rated hotels in the city, including 21 five-star hotels; There are 38 scenic spots above 4A level, including 2 5A scenic spots; There are 10 tourist resorts above the provincial level, including 1 at the national level.

Internal and External Linkage

Port Import and Export

In 2023, the total import and export volume of Ningbo Port will be 2,398.45 billion yuan, a decrease of 3.4% over the previous year.

Self-operated Import and Export

In 2023, the total import and export volume of foreign trade will be 1,277.93 billion yuan, an increase of 0.9%, of which exports will be 828.78 billion yuan, an increase of 0.7%; imports were 449.15 billion yuan, up by 1.1 percent. The import and export volume of foreign trade accounted for 3.06% of the country. There are 27,546 enterprises with import and export performance in the city throughout the year. In the whole year, the import and export of the countries under the joint construction of the Belt and Road Initiative was 569.14 billion yuan, an increase of 4.9 percent, of which the import and export to the Middle East and European countries was 50.47 billion yuan, an increase of 12.0 percent. The annual import and export volume to other RCEP member countries reached 332.74 billion yuan, an increase of 1.9 percent.

Cross-border E-commerce

In 2023, the city’s cross-border e-commerce import and export volume will reach 230.18 billion yuan, an increase of 14.8%. The online retail sales for the whole year reached 341.14 billion yuan.

Trade in Services

In 2023, the city will complete the import and export volume of international service trade of 172.83 billion yuan, of which the export value will be 115.67 billion yuan and the import value will be 57.16 billion yuan, an increase of 0.6%, 0.7% and 0.5% respectively over the previous year. The amount of service outsourcing undertaken was 72.50 billion yuan, an increase of 7.4 percent.

Utilization of Foreign Capital

In 2023, 519 foreign investment projects will be approved in the city; The contracted foreign capital was 8.52 billion US dollars, and the actual foreign capital was 4.69 billion US dollars, a year-on-year increase of 25.8 percent. By the end of the year, a total of 74 overseas Fortune 500 companies had invested in 160 projects (branches) in Ningbo, with a total investment of US$40.90 billion.

External Cooperation

In 2023, 351 new overseas investment enterprises and institutions will be approved in the city, an increase of 83.8% over the previous year; The amount of Chinese investment approved for filing was US$5.69 billion, an increase of 43.5%. The annual turnover of overseas contracted project labor cooperation was US$1.93 billion, an increase of 0.4%.

Domestic Cooperation

In 2023, the actual funds in place for domestic investment in the city will be 212.45 billion yuan, a year-on-year increase of 14.7%. Throughout the year, the city implemented 502.16 million yuan of financial counterpart support funds and implemented 76 assistance projects.

（As of the End of 2023）