Ningbo ranks 15th nationwide in innovation capability

Ningbo in East China's Zhejiang province was ranked 15th nationwide in China in terms of innovation capability in 2021, according to a recent report.

The report, compiled by the Ministry of Science and Technology and the Institute of Scientific and Technical Information of China, evaluated 72 cities, which were included in the program launched by the Ministry of Science and Technology to build a batch of innovation-driven cities.

Shenzhen topped the list, followed by Hangzhou, Guangzhou, Nanjing, Suzhou, Wuhan, Xi’an, Changsha, Hefei and Qingdao.

The ranking for Ningbo was the same as last year, only behind Hangzhou in Zhejiang. Other cities that made the list in the province included Jiaxing (22nd), Huzhou (30th), Shaoxing (39th) and Jinhua (41st).

In January, two additional cities in Zhejiang - Taizhou and Wenzhou - were also shortlisted as national innovation-driven cities.

Ningbo has set the goal of becoming a national innovation hub for the new materials, industrial internet, and key core components sectors, according to a guideline released by the local government in last August to bolster scientific and technological innovation during the 14th Five-Year Plan (2021-25) period.

Specifically, it aims to have R&D spending account for 3.6 percent of the city's economic output in 2025. Spending in basic scientific research will make up 5 percent of the total, while the value of technology transactions will amount to 45 billion yuan ($6.92 billion).

The city is expected to be home to more than 8,000 high-tech enterprises by that time, with 60 percent of companies from the city making R&D investments.