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Steady Economic Performance Registered in Ningbo for Jan-August
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According to Ningbo Release, Ningbo Municipal Bureau of Statistics and the NBS Survey Office in Ningbo have released the city’s economic operation data for January to August. Steady growth was maintained amid mounting external risks, with continuous industrial upgrading, optimized investment structure and vibrant domestic and foreign trade.

1. Industrial Output Grows Rapidly Led by Key Sectors

From January to August, the added value of Ningbo’s industrial enterprises above designated size increased by 8.5% year-on-year. Private enterprises grew notably by 11.3%. Nine of the top ten industrial sectors achieved growth, driving overall industrial growth by 7.5 percentage points. Automobile manufacturing rose 30.3% and computer and communication equipment manufacturing increased 12.3%, both posting double-digit growth.

By enterprise scale, large, medium and small industrial enterprises grew by 12.6%, 2.8% and 7.4% respectively. Emerging industries maintained strong momentum: high-end equipment manufacturing, high-tech manufacturing and core digital economy manufacturing increased by 14.8%, 10.8% and 9.9%, all outperforming the overall industrial growth rate.

2. Service Sector Recovers Steadily; Financial Operation Stable

In January–July, the operating revenue of key service industries (excluding wholesale, retail, catering, finance and real estate) rose 7.5% year-on-year, up 1.1 percentage points from January–June. Tech services and high-tech services increased by 7.9% and 9.1%.

From January to August, Ningbo Zhoushan Port achieved 947 million tons of cargo throughput (down 1.1%) and 30.4 million TEUs of container throughput (up 6.1%). By the end of August, local and foreign currency deposits reached 4.31 trillion yuan (up 8.9%), and loans hit 4.84 trillion yuan (up 6.7%), showing stable financial liquidity.

3. Investment Structure Optimized with Strong Manufacturing Momentum

From January to August, the city’s fixed-asset investment decreased 3.9% year-on-year, while investment excluding real estate grew 2.2%. Manufacturing investment rose 8.4% and infrastructure investment increased 5.7%, with transportation investment surging 12.6%.

Investment in core digital economy industries, equipment manufacturing and high-tech industries grew rapidly by 37.5%, 15.7% and 13.9% respectively. Real estate development investment dropped 19.0%, and commercial housing sales area fell slightly by 0.7%.

4. Consumer Market Expands with Booming Online Consumption

Total retail sales of consumer goods reached 375.2 billion yuan, up 3.0% year-on-year, with above-quota retail sales standing at 149.4 billion yuan, also up 3.0%. Daily consumption remained stable, while upgraded consumption saw robust growth: sales of wearable smart devices and smartphones surged 150% and 120% respectively.

Online retail sales of above-quota enterprises increased 17.4%, accounting for 42.1% of total retail sales, 5 percentage points higher year-on-year, reflecting strong digital consumption vitality.

5. Foreign Trade Exceeds 1 Trillion Yuan, Driven by Private Enterprises

Ningbo’s total import and export volume reached 1.04 trillion yuan in the first eight months, up 7.0% year-on-year, including 714.6 billion yuan of exports (+8.5%) and 322.3 billion yuan of imports (+3.8%). Private enterprises dominated foreign trade, contributing 812.4 billion yuan of trade volume, up 8.1% and accounting for 78.3% of the city’s total.

Trade with ASEAN grew rapidly by 22.0%, while trade with the EU and the US increased steadily. Mechanical and electrical product exports rose 7.8%, and exports of the “new three” strategic products skyrocketed 114.8%.

6. Consumer Prices Rise Moderately while Industrial Prices Pick Up

From January to August, Ningbo’s CPI rose 1.3% year-on-year, with food prices up 0.2% and non-food prices up 1.5%. In August, monthly CPI grew 0.9% year-on-year and 0.1% month-on-month.

Industrial producer prices increased 2.3% year-on-year, and purchasing prices rose 6.9%. August PPI growth expanded further, reflecting improved industrial market demand.

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