3 Ningbo districts recognized nationally for investment competitiveness

Yinzhou district, Ningbo, East China's Zhejiang province. [Photo/Ningbo Evening News] 

Three districts in Ningbo — Yinzhou, Beilun, and Zhenhai — have recently been recognized for their exceptional investment competitiveness, securing positions at 26th, 31st, and 79th place, respectively, on the 2023 list of the top 100 districts in China.

The report, released by CIID Consulting Co Ltd affiliated with the Ministry of Industry and Information Technology, conducted a comprehensive assessment of investment competitiveness across over 900 districts nationwide, excluding those overseen by municipalities directly under the central government, Hong Kong, Macao, Taiwan, and national-level new areas.

The assessment was based on six primary indicators — government services, openness to foreign investment, infrastructure, industrial vitality, talent attraction, and resource security. These indicators further encompassed 20 secondary indicators, such as the quantity of government public information, total import and export trade volume, commercial facilities, per capita regional GDP, and urban residents' disposable income growth rate.

Inclusion in the prestigious list underscores the escalating investment competitiveness of the three districts within Ningbo, highlighting their potential for sustained economic development.

Yinzhou has proven particularly attractive to foreign investment due to its well-established service industry foundation and expansive consumer market. Notable global retail giants such as Sam's Club and Costco have established a presence in the district, alongside prominent accounting firms including KPMG, Ernst & Young, and PwC.

Home to the world's largest port, Beilun boasts a robust manufacturing industry foundation and is a foreign trade hub in Ningbo. Its imports and exports amounted to 413.65 billion yuan ($57.67 billion) in the first 11 months of the previous year, reflecting a 1.5 percent year-on-year increase, outpacing the city's overall growth rate.

Both Yinzhou and Beilun have surpassed the 200 billion yuan GDP mark, each showcasing distinct industrial characteristics. The former focuses on advanced manufacturing and modern service industries, while the latter has fostered industry clusters in automotive parts and high-end molds.

While Zhenhai's economic output may appear slightly less impressive in comparison, it remains a member of the "billion-yuan GDP club". With support from scientific research institutions such as the Ningbo Institute of Materials Technology and Engineering, Chinese Academy of Sciences, the district holds promising prospects in strategic emerging industries like green petrochemicals and new materials.