A view of Yinzhou district in Ningbo. [Photo/cnnb.com.cn]

The gross domestic product of Ningbo grew by 5.1 percent year-on-year in the first half of 2025, hitting 886.1 billion yuan ($123.7 billion).

The metropolis saw firm growth in agriculture, continued expansion in industry and faster development in the services sector.

The value added of agriculture, forestry, animal husbandry and fisheries reached 20.47 billion yuan, up 3.7 percent year-on-year. The added value of above-designated-size industrial enterprises rose 5.7 percent, while the services sector grew 5.6 percent.

Consumption rebounded with strong policy support, especially consumer goods trade-in program. Retail sales totaled 269.77 billion yuan, up 2.2 percent. Fixed asset investment, excluding real estate, grew by 7.9 percent in the period. Infrastructure investment surged 24 percent, accounting for over a third of total investment.

Residents' per capita disposable income grew to 43,797 yuan, up 4.5 percent, while the urban-rural income ratio narrowed to 1.62.

Foreign trade demonstrated resilience in the half year. Ningbo recorded 721.8 billion yuan in imports and exports, rising 6.1 percent year-on-year. Private enterprises were pivotal in the sector, contributing 77.5 percent of total trade.

Ningbo's trade with Africa, ASEAN and the European Union increased by 25.2 percent, 20.8 percent and 12.1 percent, respectively. Meanwhile, its imports and exports with countries involved in the Belt and Road Initiative and Central and Eastern European nations rose by 13.4 percent and 13.7 percent, respectively.