By Jin Lu

Ningbo's GDP grew 5.1% year-on-year in the first half of 2025, reaching 886.1 billion yuan ($123.7 billion), driven by robust performance across agriculture, industry, and services.

The value added of agriculture, forestry, animal husbandry and fisheries reached 20.47 billion yuan, up 3.7% year-on-year. The added value of industrial enterprises above designated size rose 5.7%, while the services sector grew 5.6%.

Retail sales rebounded, reaching 269.77 billion yuan, a 2.2% increase, boosted by policy measures like the consumer goods trade-in program. Fixed asset investment, excluding real estate, rose 7.9%, while infrastructure investment surged 24%, accounting for more than a third of total investment.

Residents' per capita disposable income grew to 43,797 yuan, up 4.5%, while the urban-rural income ratio narrowed to 1.62.

Foreign trade showed resilience, with Ningbo's imports and exports totaling 721.8 billion yuan, marking a 6.1% year-on-year increase. Private enterprises played a crucial role, contributing 77.5% of the total trade volume.

Ningbo's trade with Africa, ASEAN, and the European Union increased by 25.2%, 20.8% and 12.1%, respectively. Meanwhile, its imports and exports with the Belt and Road countries and Central and Eastern European countries rose by 13.4% and 13.7%, respectively.