Ningbo is one of the leading auto parts production centers in China. Its cluster has 2,300 auto parts manufacturers.
In 2017, the total output value of automobile manufacturing enterprises in Ningbo was 192.4 billion yuan ($28.67 billion), a year-on-year increase of 29.8 percent, which exceeded the electrical machinery industry and chemical raw materials products for the first time to become the largest industry in the city.
In the first 10 months of 2017, the total output value of Ningbo's automobile manufacturing industry was 187.23 billion yuan, a year-on-year increase of 20.2 percent. It remained first in all industries with an accumulated profit of 26.41 billion yuan.
From 2014 to 2017, the annual growth rate of the industrial output value of Ningbo’s auto parts industry remained at around 30 percent. There are currently more than 4,000 professional producers in Ningbo, among which more than 30 are listed companies and about 600 are above designated size.
According to the Equipment Office of the Municipal Economic and Information Commission of Ningbo, the proportion of Ningbo's automobile industry in the province's industrial sector reached 42 percent last year. It is expected that this proportion will continue to increase this year.