By Lu Xinyan

As the new year begins, Ningbo's total number of market entities continues to expand, with a growing number of high-value enterprises joining the city's economy.

Data released by the city's market supervision authority show that in January, newly registered market entities maintained steady growth in both scale and quality. The total number of new market entities rose 6.68% year-on-year, while new enterprise registrations increased 14.96%, signaling sustained business vitality.

A notable trend is the rise of companies with substantial registered capital, reflecting improvements in the quality and efficiency of Ningbo's market entities. In January, 61 newly established companies each had registered capital exceeding 50 million yuan, a 90.6% increase from the previous year. Among them, 28 firms had registered capital over 100 million yuan, up 75% year-on-year. These high-potential enterprises are strengthening the city's industrial upgrading and becoming new growth drivers.

Market entities form the microeconomic foundation of a sustained economic recovery. Over recent years, Ningbo has streamlined market entry and exit procedures, reduced institutional costs, and introduced policies to support enterprise growth. These efforts have encouraged innovation and investment while improving the overall quality of new market participants.

A notable newcomer is Ningbo Yuxing Aerospace Technology Co., Ltd., registered in Yuyao in January. Headquartered in Beijing, the company provides full life-cycle services for commercial satellites, including tracking, refueling, and space debris management. "We serve as a 'space steward' for commercial satellites," said general manager Dong Wei. The company combines R&D in Beijing with manufacturing and operations in Ningbo, taking advantage of the city's industrial base, supply chains, and talent pool. Yuxing plans to launch a remote-sensing satellite data sharing platform to help local businesses access space data more easily.

In January, new market entities in Ningbo registered a total capital of 30.97 billion yuan, with 23.36 billion yuan (75.4%) contributed by investors from outside the city. These large-scale entrants bring capital, technology, skilled professionals, and higher value-added industrial resources, further strengthening Ningbo's economic landscape.

The city's efforts to attract capital, technology, and talent are paying off. As of the end of January, Ningbo is home to 1.456 million market entities, including 615,000 registered enterprises, up 4.57% from a year earlier, reinforcing the city's position as a growing hub for promising companies.