Chinese port hub Ningbo demonstrates resilience in navigating shifting trends

Core Insights - The fourth China-Central and Eastern European Countries Expo & International Consumer Goods Fair will take place in Ningbo from May 22 to 25, 2025, showcasing Ningbo's economic resilience and commitment to openness [1][2] - The expo will feature over 400 exhibitors presenting more than 8,000 products across a 20,000-square-meter area, expecting to attract 15,000 professionals, including over 3,000 foreign buyers, marking record highs in various metrics [3] Economic Performance - Ningbo's total import and export value reached 1.42 trillion yuan in 2024, a year-on-year increase of 11.1%, ranking among the top five cities in China for foreign trade for the first time since the 21st century [5] - From January to April 2025, Ningbo's total import and export value was 472.45 billion yuan, a year-on-year increase of 8.2%, with high-tech product imports growing by 18.1% and electronic product imports surging by 38.4% [6] Private Sector Dynamics - Ningbo's private sector is a significant contributor to its foreign trade-oriented economy, being the third city in China to have a private enterprise foreign trade scale exceeding one trillion yuan [7] - Private foreign trade enterprises in Ningbo have enhanced competitiveness through technical advancements and a shift to a global market layout, adapting to a dual circulation model that includes both domestic and international markets [9] Trade Growth and Innovations - From January to April 2025, Ningbo's private enterprises reported an import and export value of 365.44 billion yuan, a 12.3% increase, contributing 9.1 percentage points to the city's overall growth [10] - Ningbo is leveraging its role as a pilot area within the China (Zhejiang) Pilot Free Trade Zone, implementing institutional innovations to enhance foreign economic and trade cooperation [12] Strategic Initiatives - The theme of the expo emphasizes innovation, practical outcomes, and future-oriented cooperation, reflecting Ningbo's development as a high-energy open stronghold [13]