The skyline of Ningbo, Zhejiang province. [Photo/WeChat account: nbfb0574]

Ningbo experienced economic growth from January to October. During this period, the added value of above-designated-size industrial companies in Ningbo grew by 7.5 percent year-on-year, according to the latest data from local statistics authorities.

By the end of October, local financial institutions in Ningbo reported a balance of 3.62 trillion yuan ($500 billion) in deposits and 4.21 trillion yuan in loans, reflecting year-on-year increases of 6.7 percent and 12 percent, respectively.

The cargo throughput at Ningbo Zhoushan Port during the same period reached 1.16 billion metric tons, with the Ningbo port area accounting for 581 million tons. These figures represent respective increases of 3 percent and 1.6 percent. Additionally, the container throughput at the port amounted to 32.83 million TEUs, including 29.96 million TEUs in the Ningbo port area, marking year-on-year growth rates of 8.7 percent and 9 percent, respectively.

Fixed asset investment in the city, however, edged down by 0.3 percent during the 10-month period. The city's total retail sales of consumer goods were valued at 432.11 billion yuan, representing a year-on-year increase of 2.1 percent.

Regarding foreign trade, Ningbo's total import and export volume from January to October topped 1.17 trillion yuan, expanding by 10.8 percent year-on-year. Breaking down the figures, exports amounted to 781.41 billion yuan, up by 12.5 percent, while imports hit 394.26 billion yuan, rising by 7.7 percent compared to the same period last year. Private enterprises accounted for 76.2 percent of the city's total import and export volume, reaching 895.8 billion yuan, a growth rate of 12 percent.