Ningbo GDP hits $145b in 2018

A meeting is held by the Ningbo government on Jan 3 to announce the city's economic achievements in 2018 and the work plan for 2019. [Photo/zj.zjol.com]

Ningbo in East China's Zhejiang province witnessed its regional GDP hitting 1 trillion yuan ($145 billion) in 2018, an estimated growth of 7 percent year-on-year, local authorities announced on Jan 3. 

Its total fiscal revenue and GDP per capita hit 250 billion yuan and 50,000 yuan, respectively. Ningbo-Zhoushan Port, the world's largest port in cargo throughput, handled more than 25 million twenty-foot-equivalent units during the year. 

The city is thus the second in Zhejiang after Hangzhou, and the sixth in the Yangtze River Delta after Shanghai, Suzhou, Hangzhou, Nanjing and Wuxi to hit 1 trillion yuan in GDP. 

For the new year's target, local government aims to increase GDP by 6.8 percent and fixed-asset investment by 10 percent. 

Specifically, the city will continue to support its manufacturing sector, including the green petrochemical industry, auto manufacturing, high-end equipment, new materials, biomedicine and integrated circuits. 

It will also accelerate innovation and drive the transformation and upgrading of local companies, and take specific measures to boost the real economy.