Market vitality strong in Ningbo

No fewer than 220,000 market entities were registered in Ningbo, East China's Zhejiang province in 2021, an uptick of 16.9 percent year-on-year, local authorities said.

The growth rate was the fastest in Zhejiang during the past year, according to the Ningbo municipal bureau of market supervision.

Over this period, about 117,800 market entities of various types were deregistered, down 1.77 percent year-on-year.

The top three fields in terms of the number of companies registered in the city in 2021 were wholesale and retail, leasing and business services as well as scientific research and technical services.

The top five places in the city in terms of the number of newly registered companies were Yinzhou district, Haishu district, the county-level city of Cixi, the county-level city of Yuyao and Jiangbei district.

As of the end of 2021, Ningbo was home to over 1.2 million market entities, up 9.35 percent year-on-year.

The increase of market entities has driven the growth of tax revenue. From 2014 to 2021, the number of market entities rose from 570,000 to more than 1.2 million. Over the same period, the city's tax revenue almost doubled to 306.793 billion yuan.