Ningbo unveils ambitious plan to boost industrial cluster development

Ningbo in East China's Zhejiang province recently unveiled an ambitious action plan aimed at accelerating the development of industrial clusters over the next five years.

The plan sets forth a clear vision to cultivate three industrial clusters: digital industries, green petrochemicals, and high-end equipment, each generating at least 1 trillion yuan ($138.68 billion) in output value by 2027.

Beyond these three clusters, the plan also aims to establish six 100-billion-yuan industrial clusters for new functional materials, new energy, key components, smart home appliances, fashionable textiles and clothing, and modern healthcare.

The local government will be committed to fostering a group of emerging and future industries like artificial intelligence and the metaverse as well, thus creating a comprehensive and innovative "361" industrial cluster system characterized by its emphasis on green and high-end features.

By 2027, the plan projects that the total revenue of the above-designated-size enterprises within the industrial cluster system will reach 3.7 trillion yuan. This increase in industrial added value will contribute to around 25 percent of the city's industrial added value in the province. The plan also aims to develop more than five national-level industrial clusters.

This groundbreaking action plan demonstrates Ningbo's unwavering commitment to stimulating economic growth and positioning itself as a regional leader in China's dynamic industrial landscape.