Ningbo's manufacturing expands rapidly

The value added of industrial enterprises above designated size in Ningbo, Zhejiang province reached 326.67 billion yuan in 2017, a year-on-year increase of 9.6 percent, according to the city's economic and information technology committee.

Industrial enterprises above designated size are defined as State-owned and non-State-owned industrial companies with an annual revenue of over 20 million yuan ($2.9 million).

The growth rate was the best since 2012, when the city's total output, surpassing 300 billion yuan, placed Ningbo in first position in the entire province for the first time.

The manufacturing industry is vital to the development of the real economy and it is the main focus in the construction of a modernized economic pattern.

Since last year, Ningbo has exerted all its strength to push forward the realization of "Made in China 2025" by releasing a series of policies. The profits from industrial enterprises above designated size exceeded 114.88 billion yuan from January to November of 2017, an increase of 31.8 percent year-on-year.

Sectors such as automobile, equipment manufacturing, optoelectronics and internet of things were the most strong forces to the economic growth last year.

"In 2018, we will focus on the intelligent economy and strive to make advanced manufacturing stronger," said an official of the economic and information technology committee.

A worker operates a machine at the production base of SAIC Volkswagen in Ningbo, Zhejiang province. [Photo/cnnb.com.cn]