By Zhao Yu

On the afternoon of August 19th, the Municipal Bureau of Statistics released Ningbo's economic figures for July, showing that the economy maintained a steady trajectory. Over the first seven months of 2024, key sectors such as industry, commerce, and foreign trade saw continued growth, signaling the acceleration of Ningbo's high-quality development.

In July, Ningbo's industrial production grew steadily, bolstered by strong performance in key industries. The value added of industries above designated size increased by 6.3% year-on-year, with the growth rate accelerating by 1.5 percentage points compared to the previous month. From January to July, the value added in these industries grew by 7.8%.

Notably, key industries provided robust support for this growth. Among the 36 major industry categories, 26 saw an increase in value added, resulting in a growth rate of 72.2%. Of the top ten industries by scale, nine experienced growth while only one declined. In particular, the added value of vehicle manufacturing, metal products, and IT rose by 21.1%, 16.2%, and 9.3% respectively, contributing 6.4% to the overall growth in value added for industries above designated size.

Emerging industries have shown strong growth, with the added value of high-end equipment, strategic emerging sectors, and artificial intelligence rising by 13.2%, 13.1%, and 12.1%, respectively.

In the realm of merchandise trade, there was a significant rebound, while the financial sector remained steady. In July, sales of retail enterprises above designated size increased by 19.4% year-on-year, with the growth rate accelerating by 12.7 percentage points compared to the previous month. From January to July, sales of retail enterprises above designated size rose by 16.7%, with metals, chemicals, and chemical products seeing increases of 19.6% and 30.6%, respectively.

The Ningbo Zhoushan Port handled a cargo throughput of 820 million tons, reflecting a 3.9% increase. Of this, the Ningbo Port Area contributed 406 million tons, marking a 2.8% rise. The Port's container throughput reached 22.517 million TEUs, up by 7.9%, with the Ningbo Port Area alone accounting for 20.576 million TEUs, an 8.4% increase.

By the end of July, the balance of local and foreign currency deposits in the city's financial institutions stood at 3.58 trillion yuan, while the balance of loans reached 4.17 trillion yuan, representing increases of 6.2% and 13.4%, respectively.