Industrial strength boosts Ningbo economy
- Details
- Category: Governmental News
- Published: Tuesday, 05 November 2013 14:49
Ningbo's industrial economy registers a steady growth for over a year as the city adopted the strategy of promoting its industrial strength. The output value of large-scale industries in the third quarter exceeded one hundred billion yuan (USD$ 16.28 billion), according to statistics released in a city-level conference held in Beilun District this Wednesday. During the conference, the policy-makers analyzed current economic situation in the first three quarters and made plans for the next phase.
Facing the challenge of complex domestic and international economy and the severe weather condition, Ningbo launched the policy of boosting industrial growth, structure adjustment and innovation early this year. The move led to a rapid growing investment and profit. From this January to September, the city's large-scale industrial enterprises achieved a total added value of 165.4 billion yuan (USD$ 26.93 billion), an increase of eight percent. The total industrial output value hit 922.6 billion yuan (USD$ 150.23 billion), an increase of 5.7 percent year on year. The output value in July, August and September exceeded one hundred billion yuan (USD$ 16.28 billion).
The domestic market kept a growing trend against a turndown of the overseas market. During the first three quarters, the domestic turnover of large-scale industrial enterprises totaled 694.4 billion yuan (USD$113.07 billion), an increase of 8.1 percent. Among the city's 36 major industries, automotive and other nine industries reported a domestic sales growth rate of over 10 percent.
Large-scale industrial enterprises represented by oil processing industry made significant contribution to the rapid growth of industrial economy. From January to September, the city's large-scale industrial enterprises paid 90.5 billion yuan (USD$ 14.74 billion) in taxes, up 24.5 percent year on year. The total profit hit 46.7 billion yuan (USD$ 7.6 billion), a year-on-year increase of 38.5 percent.
In the meantime, the industrial investment continued to grow. The industrial investment in the first three quarters amounted to 77.72 billion yuan (USD$ 12.66 billion), up 24.9 percent year on year, 6.3 percentage points higher than the growth rate of total fixed asset investment. The figure represents the industrial investment accounts for 30.1 percent in total social fixed assets investment.
The increasing investment in innovation also brings about growth of output value of new products. From January to September, the city's large-scale industrial enterprises paid 11.04 billion yuan (USD$ 1.8 billion) in technological exchange programs, an increase of 9.9 percent year on year. The output value of new products totaled 205.59 billion yuan (USD$ 33.48 billion), an increase of 23.1 percent year on year, 17.4 percentage points higher than the production growth rate over the same period. By the end of September, the city filed 7,665 invention patent applications, a year-on-year increase of 26.7 percent. In 2013, 1,683 patents were granted, an increase of 11.1 percent year on year.
