Strategic emerging industry output exceeds 100b yuan in Ningbo

The industrial added value of strategic emerging industries in Ningbo surged 8.7 percent year-on-year to 112.09 billion yuan ($16.24 billion) in 2019, according to the Ningbo municipal development and reform commission. 

This is the first time the figure has exceeded 100 billion yuan, and it accounts for 28 percent of the city's industrial added value above designated size. 

Strategic emerging industries have been a significant engine behind the development of Ningbo, which has been designated a national independent innovation demonstration zone and a national scientific and technological achievements transfer and transformation demonstration zone.

In 2019, the city's strategic emerging industries achieved a total industrial output value of 489.8 billion yuan, up 5 percent year-on-year.

The added value of new-generation information technology, biotechnology, and new energy industries grew by 18 percent, 30 percent, and 28 percent, respectively. 

Last year, five local companies including Ningbo Physis Co Ltd were listed as "Little Giants" by the Ministry of Industry and Information technology.

"Little Giants" refer to industry leaders recognized by the MIIT as having excellent innovation capabilities, large market shares, core technologies, high-quality products, and high profitability.

In addition, four companies including HollySys were designated national pilot platforms for entrepreneurship and innovation in the manufacturing sector. 

Meanwhile, four companies, including Ningbo Konit & Nihon Magnetic Materials Co Ltd and Ningbo Baicai Industry Co Ltd, were listed among the top 100 manufacturers of electronic components nationwide. 

In other news, a total of 27 startups in strategic emerging industries were registered in the city in 2019, and the products produced by 42 local enterprises were included in the 2018 Zhejiang provincial high-quality product list, accounting for 18 percent of all enterprises on the list. 

Also, by the end of last year, 61 industrial technology institutes had been introduced or established in the city to bolster R&D and innovation among local enterprises.

In addition, Ningbo has also accelerated the development of sectors such as artificial intelligence, 5G, and hydrogen energy, and the added value of the city's core digital economy industries and high-tech industries increased to 36.2 billion yuan and 214.3 billion yuan, up 13 percent and 7 percent, respectively.