Ningbo releases economic targets for 2022

The first session of the 16th Ningbo Municipal People's Congress commences in Ningbo in East China's Zhejiang province on April 9. [[Photo/WeChat account: nbfb0574]

Ningbo has set a goal of increasing its gross domestic product (GDP) by over 7 percent this year, according to the government work report delivered by Acting Mayor Tang Feifan. 

Tang delivered the report at the first session of the 16th Ningbo Municipal People's Congress that commenced in the city in East China's Zhejiang province on April 9.

The government also unveiled a string of development goals for 2022 during the session.

Among the goals is maintaining the growth rate of investments in fixed assets at 8 percent, creating an additional 200,000 urban jobs, and slashing more than 50 billion yuan ($7.69 billion) in financial burdens faced by enterprises, according to the report.

Efforts will be made to optimize the business climate and make 90 percent of administrative service items accessible online this year.

The city also aims to bolster its innovation capabilities. To achieve this, it will strive to inaugurate five provincial key labs or research organs and attract 200,000 new college graduates as well as 50,000 high-skilled workers. The city's technological transactions this year is expected to reach 32 billion yuan.

The local government has also set the goal of growing the added value of industrial enterprises above designated size by 8.5 percent year-on-year.

With regard to trade, Ningbo aims to increase its container volume handled by sea-rail transportation to above 1.4 million TEUs, while raising its imports from Central and Eastern European countries (CEEC) by at least 25 percent.

In addition, the city aims to bring in another five Fortune Global 500 companies.

It will also ramp up infrastructure construction by building an additional 6,000 5G base stations and 1,300 charging piles for electric cars.

In the meantime, it will also scrap 40,000 old cars to improve air quality.