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In the first half of 2024, Ningbo's GDP was 820.79 billion yuan, an increase of 5.4% over the previous year at constant prices, 0.4 percentage points higher than the national average.

Among them, the added value of the primary industry was 16.59 billion yuan, an increase of 3.9%; the added value of the secondary industry was 370.39 billion yuan, an increase of 6.2%; the added value of the tertiary industry was 433.81 billion yuan, an increase of 4.7%. The proportion of the three industries is 2.0:45.1:52.9.

In terms of districts (counties and cities), Yinzhou District’s GDP was 144.7 billion yuan, ranking first among all districts (counties and cities). Cixi City ranked first among districts (counties and cities) with a growth rate of 6.7%.

The role of industry as a "ballast stone" is highlighted

Industry is the foundation of Ningbo's establishment and the basis for its strength.

In the first half of the year, industrial added value increased by 7.5% year-on-year, 0.4 percentage points faster than the first quarter; the contribution rate to GDP growth reached 56.9%, 4.8 percentage points higher than the first quarter, and the role of industry as a "ballast stone" was further highlighted. Among them, the added value of industrial enterprises above designated size increased by 8.0%, 0.6 and 1.4 percentage points faster than the first quarter and the whole of last year, respectively.

It is reported that Ningbo's industrial operation mainly presents the following characteristics:

First, nearly 70% of industries achieved growth. In the first half of the year, the added value of 24 out of 36 major industrial sectors maintained positive growth, accounting for 66.7%. Among them, the growth rate of five industries, including automobile manufacturing, metal products, chemical raw materials, computers, and instrumentation, was higher than that of large-scale industries.

Second, private enterprises made outstanding contributions. In the first half of the year, the added value of private enterprises accounted for 59.3% of the industrial output above designated size, an increase of 8.9%, 1.1 and 0.7 percentage points higher than the first quarter and the whole of last year respectively.

Third, industrial exports recovered faster. Among the 29 manufacturing industries, 23 industries achieved growth in export delivery value, accounting for nearly 80% of the growth. Among them, the export delivery value of metal products, rubber and plastic products, general equipment, and electrical machinery industries increased by 36.3%, 13.2%, 10.5%, and 10.1% respectively.

Fourth, the transformation and upgrading situation is good. In the first half of the year, the added value of high-end equipment, strategic emerging industries, equipment manufacturing, artificial intelligence, and high-tech industries increased by 13.5%, 12.7%, 12.1%, 11.0%, and 10.5%, respectively, all higher than the growth rate of large-scale industries.

Judging from the performance of the "three major drivers", in terms of foreign trade, Ningbo's total foreign trade volume in the first half of the year was 681.14 billion yuan, a year-on-year increase of 9.5%, setting a new historical high and ranking fifth among cities in the country.

In terms of consumption, in the first half of the year, the city's total retail sales of consumer goods increased by 2.9%. Automobile consumption played a significant role in driving growth, increasing by 15.9%, driving the growth of limited retail sales by 5.7 percentage points. Among them, the demand for new energy vehicles was strong, increasing by 96.4%.

In terms of investment, in the first half of the year, the city's fixed asset investment increased by 3.3%, of which infrastructure investment increased by 19.8%, driving the investment growth rate by 4.5 percentage points; manufacturing investment increased by 6.0%.

Under the influence of large-scale equipment renewal policies, the growth of investment in equipment and tools purchase accelerated and had a large pulling effect, with a growth rate of 12.3%, and its contribution rate to the total investment growth reached 36.7%.

It is worth mentioning that according to the public announcement list of the eighth batch of national manufacturing single champion enterprises, Ningbo has 104 national "champion" enterprises. It is the only city in the country with more than 100 "champions", and the total number has ranked first among all cities in the country for seven consecutive years.

For "champion" enterprises, "champion" is a new starting point. For urban development, the energy level of "champion" breeds the future. "Champion" enterprises are given priority, which has become Ningbo's development strategy. "Ningbo's preferential policies in finance, finance, talents, intellectual property rights, etc., are fully covered for "champion" enterprises." A relevant person in charge of Ningbo Economic and Information Technology Bureau said.

122 listed companies "flex their muscles"

Listed companies are the active "cells" of economic development. Their performance is closely related to the macroeconomic environment and also reflects the state of China's economic development.

From the perspective of market value, there are currently five listed companies, including Ningbo Bank, Bull Group, Ningbo Port, Deye Holdings, and Top Group, with a market value of more than 50 billion yuan.

Among them, Dongfang Cable is the only company in China that masters the design and independent production of marine umbilical cables. The company currently has three major product areas: land cables, submarine cables, and marine engineering. It is a core supplier of submarine cables and land cables in China. It has been awarded the title of "Top 10 Most Competitive Enterprises in China's Cable Industry" for three consecutive years, and was rated as a "National Green Factory" and selected as one of the "First Eagle Enterprises in Zhejiang Province".

Since July, A-share listed companies have entered a period of intensive disclosure of semi-annual reports. At present, 35 A-share Ningbo listed companies have released semi-annual reports, and 16 of them have predicted an increase in performance.

According to the performance forecast, the upper limit of the year-on-year increase in non-GAAP net profit of 11 listed companies including Zhenyu Technology, Shentong Technology, Jizhi Technology, Daye Holdings, Changhua Group, Shuanglin Holdings, Baosi Holdings, Songyuan Holdings, Yema Battery, Junhe Holdings, and Ligongnengke exceeded 100%.

Among them, Junhe Co., Ltd. is a leading domestic household water pump manufacturer. Since its establishment in 2003, it has been focusing on the research and development, design, manufacturing and sales of household water pumps and their accessories. The main products include four series: submersible pumps, garden pumps, fountain pumps and deep well pumps. The products are exported to Europe, America, Oceania and other regions. It is one of the leading domestic household water pump export companies.

From the perspective of industry classification, there are 23 companies in the automobile sector, 20 companies in the mechanical equipment sector, 15 companies in the power equipment sector, 10 companies in the electronics sector, and 7 companies each in the basic chemical industry and light industry manufacturing sector.

In recent years, Ningbo has accelerated the technological innovation and industrial layout in the field of new energy vehicles, continuously improved the industrial chain and supply chain system, and cultivated the industrial development ecology. Data shows that this year, Ningbo has 106 new energy vehicle projects under construction with a total investment of 72.8 billion yuan.

With the leading role of vehicle manufacturers such as Geely and Volkswagen and the first-mover advantage of Ningbo auto parts companies, Ningbo has now cultivated a relatively complete new energy vehicle industry chain.

Among them, Xusheng Group is mainly engaged in the research and development, production and sales of precision aluminum alloy automotive parts and industrial parts. As a lightweight solution provider that focuses on the new energy vehicle industry chain in my country earlier, the company has a customer layout in the three major mainstream consumer markets of "North America, Asia Pacific, and Europe" in terms of customer system coverage; in terms of supply chain flexibility, it has promoted the plan of globalization and multi-region supply chain layout.

In the special equipment manufacturing industry, Ningbo Jingda's main business is the research and development, production and sales of heat exchanger equipment and precision presses. The company has been focusing on high-speed precision presses, servo forming presses, air-conditioning heat exchangers and microchannel heat exchanger production line equipment for more than 30 years, and has long focused on product research and development and quality control.

In the field of rubber and plastic products, Joy Smart is a service provider specializing in providing overall solutions for recyclable packaging. In recent years, with the deepening of research and development in the recyclable packaging industry, the use of advanced materials, high-tech and high-end equipment in recyclable packaging has gradually increased. The company attaches great importance to the research and development of products and technical processes. In 2023, it obtained approval from the Zhejiang Provincial Department of Human Resources and Social Security and completed the construction of the Zhejiang Provincial Postdoctoral Workstation.

In the cultural and educational, arts and crafts, sports and entertainment products manufacturing industries, Chuangyuan's main business is the research and development, design, production and sales of fashion stationery, handmade puzzles, social emotions, sports and fitness, home furnishings and other six categories of products. On the basis of steadily advancing the development of various businesses, the company actively expands overseas markets and has achieved remarkable results in cross-border e-commerce.