Ningbo's industrial output tops 2t yuan in 2021

A researcher works in a lab in Ningbo, East China's Zhejiang province. [Photo/cnnb.com.cn]

The industrial output value of enterprises above designated size in Ningbo amounted to 2.21 trillion yuan ($340 billion), up 21.8 percent year-on-year, official data showed.

This is the first time the city's industrial output value has exceeded 2 trillion yuan.

The city's industrial added value hit 486.5 billion yuan over the past year, rising by 11.9 percent year-on-year.

In 2021, the city's industrial investment was ranked first in Zhejiang and represented a yearly uptick of 20.4 percent.

In addition, the output value of new products in Ningbo reached 757.44 billion yuan, up 26.3 percent compared with the previous year. 

Fourteen companies in the city made initial public offerings last year, and 18 companies were designated national "manufacturing champions", which refer to manufacturing enterprises that have the biggest share in their niche markets in China.

Ningbo is currently home to 63 such "manufacturing champions", more than any other city in the country.

The city has also overtaken Shenzhen to be ranked third nationwide in the number of "little giants".

Last July, 127 companies from the city were included on the list of the third batch of "little giants" released by the Ministry of Industry and Information Technology (MIIT), bringing the total number of such enterprises in Ningbo to 182.

The preferential policies rolled out by the local government, including relieving burdens on enterprises and expanding their financing channels, has played a part in the robust growth of local enterprises.

In the first 11 months of last year, the city provided 35.57-billion-yuan worth of subsidies to alleviate the financial burdens of enterprises.

Meanwhile, the city's medium- and long-term loans for the manufacturing sector surged 64.5 percent year-on-year last year and accounted for more than 24 percent of the city's total.