New materials industry

The new materials industry has been gathering momentum in Ningbo in recent years. The city has made significant progress in the research and development (R&D) of magnetic materials, high-performance metal materials and synthetic new materials.

Ningbo New Material Industrial Park. [Photo/nbhtz.gov.cn]

The city has attracted several renowned enterprises, including Powerway Group, Yunsheng Shares, Ningbo Guangbo, Ningbo Jingzhu, Jiangfeng Electronics, Zhizhi Technology and Weizhen Technology.

To tackle the problems encountered during the development of high-end technologies, Ningbo founded a joint research institute in October 2017, which is equipped with 37 laboratories and nearly 50 high-end detective machines. The great effort made by the government has paid off: a series of high-end projects, including the Nano Photoelectric Functional Materials and the Organic Luminescent Materials Project, have been settled in the city, along with nearly 100 service enterprises.

Ningbo hosts the fifth New Materials Industry Competition in 2018. [Photo/zjol.com.cn] 

Other than the construction of various platforms, including the New Materials Science and Technology City, Ningbo Institute of Materials of Chinese Academy of Sciences and Ningbo Branch of Academy of Military Science, Ningbo also focuses on innovation contests such as the New Materials Industry Finals of China Venture and Innovation Competition, gathering talents and resources to the local new materials industry. 

In 2017, Ningbo launched 22 preferential policies to grant an investment of 10 billion yuan ($1.48 billion) to three strategic emerging industries: new materials industry, high-end equipment industry and new-generation information technology industry. 

In 2017, as an important new materials industrial base in China, Ningbo generated an industrial output value of 139.5 billion yuan, a year-on-year growth of 28.2 percent. The development of the local new materials industry led the way among other cities in terms of scale and value. A number of competitive products and technologies has emerged on the world stage.

The city is also dedicated to the recruitment of talents. Nearly 700,000 skilled workers are now employed at the Ningbo New Material Park , among whom 7,000 are highly educated talents.