Economic Overview - Ningbo's GDP for the first three quarters of 2025 reached 1,349.29 billion yuan, with a year-on-year growth of 5.0% at constant prices [1] - The primary industry added value was 30.11 billion yuan, growing by 3.6%; the secondary industry added value was 573.65 billion yuan, growing by 4.3%, with industrial output at 526.20 billion yuan, growing by 5.6%; the tertiary industry added value was 745.53 billion yuan, growing by 5.5% [1] Comparative Analysis - Ningbo's GDP growth rate of 5.0% is lower than the national average of 5.2% and the provincial average of 5.7% [2] - The secondary industry's added value growth of 4.3% is also below the national and provincial levels by 0.6 and 0.9 percentage points, respectively [2] - The city's fixed asset investment saw a significant decline of 18.1%, contrasting with a national decrease of 0.5% and a provincial decrease of 3.8% [2] Foreign Trade Performance - Ningbo's total import and export volume exceeded 1 trillion yuan, reaching 1,092.26 billion yuan, with a year-on-year growth of 3.7%, which is below the national growth of 4.0% and provincial growth of 6.2% [3] - The city's foreign trade dependency is notably high at 78.3%, significantly above the national average of 32.5% and the provincial average of 58.4%, indicating greater vulnerability to external shocks [3] Future Outlook - Ningbo aims to achieve a GDP of over 2 trillion yuan by 2025, with a current GDP of 1,814.77 billion yuan in 2024, indicating a close competition with Nanjing [1] - The city faces challenges in maintaining economic momentum and is urged to enhance efforts in stabilizing and improving economic conditions [3]

Economic Overview - Ningbo's GDP for the first three quarters of 2023 reached 1,349.29 billion yuan, with a year-on-year growth of 5.0% at constant prices [1] - The primary industry added value was 30.11 billion yuan, growing by 3.6%; the secondary industry added value was 573.65 billion yuan, growing by 4.3%, with industrial output at 526.20 billion yuan, growing by 5.6%; the tertiary industry added value was 745.53 billion yuan, growing by 5.5% [1] Comparative Analysis - Ningbo's economic performance has seen it rise from 16th to 11th in national rankings since joining the "trillion GDP club" in 2017, surpassing cities like Foshan and Changsha [1] - The city aims to achieve a GDP of over 2 trillion yuan by 2025, positioning itself to enter the top 10 cities nationally, with a current GDP of 1,814.77 billion yuan in 2024, closely trailing Nanjing's 1,850.08 billion yuan [1] Industry Performance - The secondary industry in Ningbo grew by 4.3%, lagging behind national and provincial averages by 0.6 and 0.9 percentage points, respectively [4] - Ningbo's industrial output increased by 5.4%, also below national and provincial growth rates [4] - The city's foreign trade, a significant sector, saw total imports and exports reach 1,092.26 billion yuan, growing by 3.7%, but still underperforming compared to national and provincial averages [4] Economic Challenges - Ningbo's economy is heavily reliant on foreign trade, with a dependency rate of 78.3%, significantly higher than the national average of 32.5% [4] - The city faces considerable risks and challenges due to external uncertainties, impacting its economic recovery [4] - The local government emphasizes the need for enhanced efforts to stabilize and improve economic conditions [4]