Ningbo economy sees steady growth in Jan-Feb

An aerial view of Ningbo, Zhejiang province. [Photo/Yongpai App]

Ningbo's economy got off to a solid start in 2026, maintaining stable growth in January and February, according to the latest official data.

Industrial production recorded strong momentum, with the value-added output of industrial enterprises above designated size rising 9.3 percent year-on-year, 4 percentage points higher than the full-year growth in 2025.

Of the 36 major industrial sectors, 27 achieved growth. Key industries such as automobile manufacturing, petroleum processing, computer and communications equipment, and general equipment manufacturing all posted double-digit increases.

Domestic demand also showed steady improvement. Retail sales of consumer goods reached 87.2 billion yuan ($12.62 billion), up 3.8 percent year-on-year, while sales of metals and automobiles saw notable growth.

Cargo throughput at Ningbo-Zhoushan Port climbed 7.3 percent to 245 million metric tons, while container throughput surged 19.8 percent, underscoring the city's role as a major global shipping hub.

Foreign trade remained a key driver. Total imports and exports increased 9.9 percent to 257.3 billion yuan, with private enterprises contributing 77.1 percent of the total. Trade with the European Union, ASEAN, and emerging markets such as Africa continued to expand steadily.