Ningbo’s Growth Highest in Zhejiang as Market Entities Top 1.2 Million
Distribution map of market entities in all districts, counties (cities) of Ningbo(to Dec 2021).
According to the latest statistics from Ningbo Administration for Market Regulation, Ningbo’s newly registered market entities in 2021 were 220,500, setting a record high. Its growth rate ranked first in Zhejiang, up 16.69% year-on-year. The number of deactivated market entities were 117,800, posting a decrease of 1.77% year-on-year. By the end of 2021, Ningbo has accumulated 1.2076 million market entities, rising by 9.35% year-on-year.
Ningbo forecast a rapid market recovery, increased capital investment, and strong performance by innovative industries in 2021. The newly registered market entities set a record high, totaling 220,500. Specifically, domestic-funded enterprises (including private enterprises) and registered capital climbed 10.85% and 21.87% year-on-year; foreign-funded enterprises and registered capital surged 24.07% and 147.38% year-on-year; privately or individually-owned businesses and registered capital increased by 20.30% and 1.90%. Except for the capital of privately or individually-owned businesses, all of them increased in both quantity and volume of capital, at a rate greater than 10%.
By the end of 2021, Ningbo has accumulated 1.2076 million market entities, a year-on-year increase of 9.35%; that is, there are more than 128 market entities per 1,000 people. Among them, the number of domestic-funded enterprises (including private enterprises) and registered capital surged by 11.69% and 22.40%; the number of foreign-funded enterprises and registered capital increased by 0.50% and 8.16%; the number of privately or individually-owned businesses and registered capital climbed by 8.00% and 12.29%.
Key industries grew steadily. In 2021, Among Ningbo’s top 5 newly established enterprises, 21,200 were from the wholesale and retail industries, accounting for 26.49% of all newly established enterprises; 13,900 from leasing and business service industries, making up 17.30%; 11,500 from scientific research and technical service industries, constituting 14.30%; 10,400 from manufacturing, accounting for 12.98%; 5,200 from the construction industry, making up 6.43%. The above industries together accounted for 77.50% of Ningbo’s newly established enterprises in 2021. Leasing and business service industries – alongside the electrical, heat, gas, water and supply industries – increased by over 50% year-on-year, reaching 53.06% and 52.83%, respectively.
By the end of 2021, the top 5 regions in Ningbo with the most enterprises were: Yinzhou District (87,100), Haishu District (64,400), Cixi City (55,200), Beilun District (53,600) and Yuyao City (49,700). The above regions have a total of 310,000 enterprises, constituting 61.52% of all enterprises in Ningbo.
The vitality of the private sector was fully unleashed. In 2021, newly registered private enterprises were 75,700, with a registered capital of 379.024 billion yuan, a year-on-year increase of 10.30% and 22.41%, respectively. By the end of 2021, Ningbo had a total of 1.1654 million private sector market entities, accounting for 96.50% of the total. The private sector is the main driver of Ningbo’s high-speed and high-quality economic growth, with a significant impact on stabilizing business growth and promoting innovation of private enterprises, increasing employment, and improving people’s livelihood.