Ningbo GDP exceeds 500b yuan in first half of 2018

Ningbo's GDP totaled 503.73 billion yuan ($74.36 billion) in the first six months of 2018, a 7.8 percent year-on-year increase, according to a news conference held by the local government July 23.

Ningbo Deputy Secretary Wang Renyuan said the city had maintained sustainable economic development in the first half of the year and that residents had seen their livelihoods improve.

Primary industry saw 13.84 billion yuan of value added, a year-on-year increase of 1.7 percent; secondary industry rose 263.55 billion yuan, an 8 percent year-on-year increase; tertiary industry gained 226.34 billion yuan, up 7.9 percent over last year. The service industry also enjoyed sustainable development as emerging industries experienced rapid growth.

Ningbo's open economy saw robust development from January to June, with total import and export value reaching 402.85 billion yuan, up 11.3 percent year-on-year. Of this amount, imported goods accounted for 145.41 billion yuan while exports were worth 257.44 billion yuan.

The city's general fiscal revenue totaled 164.75 billion yuan in the first half of 2018, a 14.1 percent year-on-year increase. Per capita disposable income rose to 28,518 yuan, a year-on-year increase of 8.1 percent.