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Ningbo demographic analysis and economy overview
Ningbo’s total population has grown from 5.4 million
in 2001 to 5.6 million in 2007- reflecting a 3.7%
growth in a period of six years. However, in the
latest findings, Ningbo’s elder population will
reached a total of one million by 2010, accounting
for 16.3% of the total population. The elder
population is estimated to exceed 1.3 million in
2015. This ageing phenomenon has lead to the
government spending resources to cater to the needs
of the growing elder population. The population
growth is expected to decline in times to come.
Below is the chart of Ningbo total population and trends from year 2001 - 2008:
Ningbo has been a major port for foreign trade due
to its strategic geographical advantage. The port
provides enormous potential and competitive
advantage that propels the growth of Ningbo’s
economy. With a large handling capacity, Ningbo
undertakes the transfer of international industries,
and has built the national bases of energy and raw
materials. In addition, the highly developed private
economy is one of the most distinctive features of
Ningbo. The private-sector economy represents 83% of
the city's GDP. Nominal GDP of Ningbo has risen by
2.6 times from 131.3 RMB billion in 2001 to 343.5
RMB billion in 2007.
Below is the chart of nominal GDP and trends of Ningbo city from year 2001 - 2008:
Nominal GDP per
capita of Ningbo has leaped by 2.5 times from 24, 159 RMB in 2001 to 60, 844
RMB in 2007. The trend will continue to rise as there are many prospects and
large room for development in various aspects of Ningbo such as environment,
city construction, public health, foreign trade etc. With reference to the
city’s plans and estimation, by the year 2011, Ningbo will realize local GDP
of 500 RMB billion, with an average annual increase of 11%. The GDP per
capita will reach 86, 000 RMB while revenue income 100 RMB billion. The
income per capita of urban residents and rural residents will achieve 30,000
RMB and 13,000 RMB respectively.
Below is the chart of Ningbo nominal GDP per capita and trends from year 2001 - 2008:
Government
finance revenue of Ningbo has jumped by 3.3 times from 10 RMB billion in
2001 to 33 RMB billion in 2007. The upward trend will continue as Ningbo
upgrades itself an vital national port of foreign trade, manufacturing base
and a modern logistic center, at the same time, establishing itself as an
economic centre in the southern wing of Yangtze River Delta.
Below is the chart of Ningbo government finance revenue and trends from year 2001 - 2008:
Ningbo’s total
investments in fixed assets have soared by 5 times from 32 RMB billion in
2001 to 160 RMB billion in 2007. Ningbo’s main industries include:
petrochemical, power and paper-making, machinery, electronics,
metallurgical, building material, light industry, textile and garment and
pharmaceutical industries. These areas provide the prospects for investments
in Ningbo. Furthermore, the municipal construction involves abundant
opportunities in investments. For example, one of the objectives in the
city’s development plan is to focus on urbanization, at the same time,
maintaining ecological balance and improving on environmental quality. Thus,
total investments in fixed assets would most likely continue its upward
movement.
Below is the chart of Ningbo total investments in fixed assets and trends from year 2001 - 2008:
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