Ningbo sets sights on securing $50b in overseas orders in 2024

Vessels berth at a port located in Ningbo, East China's Zhejiang province. [Photo/WeChat account: nbfb0574]

Ningbo has recently unveiled an ambitious plan to bolster its international market presence, aiming to achieve $50 billion in overseas orders by the end of 2024.

In pursuit of this formidable goal, Ningbo has pledged to implement a comprehensive strategy to expand its international markets through a variety of channels. These include active participation in domestic and international exhibitions, client visits, establishment of overseas warehouses, enhanced online customer engagement, and the development of diverse channels for live marketing.

As part of this initiative, the city aims to engage over 10,000 local enterprises in various overseas exhibitions throughout the year.

The early success of these efforts is already evident. Official statistics from the Ningbo Municipal Bureau of Commerce reveal that, from January to February, more than 1,200 companies participated in overseas exhibitions, collectively occupying over 2,100 booths spanning a total area exceeding 19,000 square meters. These figures represent record highs when compared with the same period in previous years.

Notably, at the East China Fair which concluded on March 4, the transaction volume of the Ningbo trade delegation reached $230 million, marking an 8 percent increase year-on-year and accounting for over 10.4 percent of the national total.