Xinhua News Agency Official Account: From "Champion City" to "New Quality City" - A Documentary of Ningbo's Development of New Quality Productivity

(The cargo ship is loading and unloading goods in Meishan Port Area, Zhoushan Port, Ningbo. Xinhua News Agency)

Beijing, January 6 (Xinhua) -- China Securities Journal published an article on January 6 titled "From the 'Champion City' to the 'New Quality City' - A Documentary of Ningbo's Development of New Quality Productivity". The article states that the Yong River flows deep and still, while the Hangzhou Bay experiences surging tides. On the map of the Chinese economy, Ningbo is like a hidden 'sweeping monk'. At first glance, it appears low-key and introverted, but upon closer examination, it reveals its hardcore strength.
Since joining the GDP "trillion club" in 2018, the total economic output of Ningbo has steadily increased. In the first three quarters of 2025, Ningbo achieved a GDP of 1.35 trillion yuan, a year-on-year increase of 5.0%. Among them, investment in emerging fields such as artificial intelligence and robotics, high-tech services, and technology services increased by 9.3%, 41.2%, and 56.7% respectively, laying a solid foundation for the beginning of the 15th Five Year Plan.
What is even more commendable is that as the "cradle" of China's manufacturing industry champions, Ningbo has a total of 119 national level manufacturing industry champions, ranking first in the country for 8 consecutive years. The urban background of "doing the best, striving for the first, and not showing off", combined with profound manufacturing heritage, active private economy, developed foreign trade, and precise financial ecology, allows innovation to flourish in this fertile land, and makes this "champion city" firmly run towards the goal of "new quality city".
In 2026, the 15th Five Year Plan will officially begin. As a manufacturing hub in the Yangtze River Delta and an important gateway for opening up to the outside world, Ningbo is positioning itself and making full efforts in the "15th Five Year Plan" strategic blueprint with the hard core strength of the "Champion City" and the transformational courage of the "New Quality City".
The strength of the 'Champion City' is fully displayed
As an important central city, modern ocean city, and national comprehensive transportation hub city in the Yangtze River Delta region, Ningbo is an important economic center in the southern wing of the Yangtze River Delta. It has developed industries such as manufacturing, foreign trade, and port logistics, and its economic structure is diverse and full of vitality. In recent years, Ningbo has solidly promoted the innovation driven development strategy, actively cultivated new quality productive forces, helped achieve high-level technological self-reliance and self-improvement, and continuously entered new levels of innovation.
——Enterprise innovation "thousands of troops and horses" demonstrate vigorous vitality. When a reporter from China Securities Journal visited Ningbo for research, the most profound feeling was the overwhelming wave of corporate innovation. Here, millions of enterprises converge into a torrent of innovation, each possessing unique skills and achieving national and even global firsts in their respective fields.
'Let enterprises truly become innovative entities' is not a slogan in Ningbo, but a vivid practice that can be seen and touched. The relevant person in charge of Ningbo Science and Technology Bureau introduced that in Ningbo, 90% of R&D institutions, R&D personnel, R&D investment, and more than 80% of invention patents come from enterprises; The total number of high-tech enterprises has reached 8855, with an average annual growth rate of over 30% in the past three years. The total number ranks among the top in similar cities in China, and innovation momentum continues to emerge.
Innovative enterprises in Ningbo not only have a magnificent momentum of "thousands of troops and horses", but also a "elite army" standing at the forefront. On December 11, 2025, the ninth batch of national manufacturing industry champions list announced by the Ministry of Industry and Information Technology, with 15 new enterprises from Ningbo shortlisted, bringing the total number to 119. This means that Ningbo has been the top champion of the national manufacturing industry for eight consecutive years.
Driven by continuous innovation, these companies have not only won the "national championship", but also emerged in the global market: for every three Android phones worldwide, one optical lens comes from Ningbo Sunny Optical Technology; More than 90% of sewing machine manufacturers worldwide prefer Ningbo DeYing Precision Machinery's rotary shuttle; 40% of the world's high-precision machine tools, precision grinding tools, and component cutting wires originate from Ningbo Bode High Tech... The global discourse power of "Made in Ningbo" continues to increase.
Changyang Technology, which landed on the Science and Technology Innovation Board in 2019, is a typical example: the company's independently developed optical reflective film products not only broke the long-term monopoly of Japan and South Korea in this field, but also held the top spot in the global market for eight consecutive years since 2017, with a market share of up to 55%, becoming the undisputed global leader in this field.
The ultimate competitiveness of hard technology enterprises lies in building an unshakable 'technological monopoly' advantage. "Jin Yadong, Chairman of Changyang Technology, explained the breakthrough path of hard technology enterprises based on the growth process of the enterprise: first focus on the subdivision track to establish a foothold, then expand the scale to reach the top of individual championships, and finally achieve industry leadership through disruptive innovation.
Innovative enterprises in Ningbo are not only the "leading geese" of industrial upgrading, but also the "vanguard companies" of technological breakthroughs: Linsheng Polymer deeply cultivates the field of medical precision catheters and overcomes foreign technological barriers; The LCP film of Jujia New Materials fills the domestic technological gap; Vulcan Technology's high-end silicon carbide ceramic seals achieve industrial breakthrough
Qian Xiangjin, a specially appointed professor at the School of Management of Zhejiang University, analyzed that "Ningbo's science and technology innovation enterprises have two major characteristics: one is to anchor the hard core track, focus on high barrier hard technology fields, and face the 'bottleneck' problems; the other is to pursue ultimate precision, whether it is micro scale chip processing or precise weight reduction of spacecraft, all of which demonstrate Ningbo Manufacturing's persistent pursuit of ultimate quality in segmented fields
——Industrial innovation "thousand sails competing for development", competing for future heights. In Ningbo, reporters from China Securities Journal not only touched the solid pulse of deep cultivation and practical work in the manufacturing industry, but also witnessed the surging vitality of future industrial layout. Cutting edge new materials, future intelligence, metaverse, future energy, aerospace technology, future ocean, quantum technology, original new drugs, future diagnosis and treatment and other sub sectors have made multiple breakthroughs in Ningbo's "361" modern industrial system, presenting a booming trend of "thousands of sails competing for development and hundreds of boats competing for flow".
The sudden rise of the humanoid robot industry is a vivid reflection of Ningbo's anchoring of its core advantages in manufacturing and its pursuit of breakthroughs and changes in future industries. The Ningbo new energy vehicle industry chain occupies an important position globally, gathering 22 individual champions, 97 specialized and new "little giant" enterprises, and 4 companies ranking among the top 100 in the world. "Hidden champions" in various sub fields are constantly emerging. "This provides unique innate conditions for the cross-border transformation of the automotive industry chain towards the humanoid robot industry with the same technology," said Xiong Rong, Chief Scientist of Zhejiang Humanoid Robot Innovation Center.
A solid foundation is necessary for rapid transformation. The data confirms the explosive power of Ningbo's industry: since 2025, the number of enterprises in Ningbo with the production capacity of humanoid robots has jumped from 3 to 8, and the number of supply chain supporting enterprises has expanded from 25 to 88. The "Ningbo Tiantuan" composed of local listed companies such as Junsheng Electronics, Junpu Intelligence, Shuanglin Co., Ltd., Topu Group, Ningbo Huaxiang, Zhongdalide, and Xiaxia Precision is accelerating its rise in the humanoid robot industry and becoming an important pole in the global humanoid robot industry.
Just as the development of the global new energy vehicle industry cannot do without Ningbo, the future development of the global humanoid robot industry cannot do without Ningbo! "Wang Jianfeng, Chairman of Junsheng Electronics, firmly stated that the company has elevated its robot business to the same strategic level as its automotive business." The humanoid robot industry is another historic opportunity we face after new energy vehicles and intelligent driving, and it will also be a new growth pole for Ningbo's industrial transformation
——Original innovation employs various methods to stimulate industrial potential. On the track of technological innovation, as the "twin stars" of Zhejiang, Hangzhou is known for its "soft power": high-energy level scientific and technological innovation platforms are densely deployed, focusing on fields such as digital economy, big models, e-commerce, etc., and proficient in integrated innovation of "making something out of nothing"; Ningbo, on the other hand, relies on its "hard power" to establish itself: it gathers single champion enterprises, deeply cultivates new materials, high-end equipment, new energy vehicles and other tracks, and excels in iterative innovation of "having excellence in the middle".
Making up for the shortcomings of "soft power" and promoting the integration of "soft and hard" is the core driving force for Ningbo to enhance its original innovation capabilities. In January 2025, great good news came: Ningbo was successfully approved as the national key laboratory of marine key materials of the Chinese Academy of Sciences Ningbo Institute of Materials and the national key laboratory of agricultural product quality and safety of Ningbo University, two "national key laboratories", which achieved a historic breakthrough in the construction of a national scientific innovation platform and injected strong momentum into original innovation.
As the flagship of Ningbo Science and Technology Innovation, Yongjiang Laboratory has achieved explosive results and become a benchmark model for empowering "hard manufacturing" with "soft power". Among them, the "Jizhi G-X100" space computing chip, which was heavily released in November 2025, adopts a 5-nanometer process and Chiplet heterogeneous packaging solution to compress end-to-end latency to 9 milliseconds, breaking the global record. The accompanying MR glasses prototype weighs less than 100 grams, promoting the industry into the "hundred gram era" and demonstrating its hardcore innovation strength.
"We will further improve the national strategic resource introduction mechanism, build a national key laboratory with high standards, strive to create national platforms such as the National Technology Innovation Center, concentrate high-quality resources to support the development of platforms such as Yongjiang Laboratory, Ningbo Institute of Materials, Chinese Academy of Sciences, Ningbo University, Ningbo East University of Technology, and create a flagship sci-tech innovation platform system with Ningbo recognition." The relevant person in charge of Ningbo Science and Technology Bureau introduced that by 2030, we will strive to build 10 national innovation platforms, 100 new research and development institutions with industry influence, 1000 research and development institutions of enterprises above the provincial level, and lay a solid foundation for the "520" sci-tech innovation system.
Fearless of wind and rain, accelerate and run
At present, global trade frictions continue, geopolitical conflicts and market fluctuations are intertwined, and the manufacturing industry is fiercely competitive in an "inward rolling" manner. The industrial and supply chains are facing dual challenges of chain breakage risk and cost pressure. Ningbo is fearless of wind and rain, firmly anchored in the direction of high-quality development, always taking technological innovation as the core engine, adhering to the dual efforts of policy precision drip irrigation and reform empowerment, focusing on hard technology research and industrial ecological optimization, and accelerating on the track of cultivating new quality productivity.
——The more intense the competition, the more we need to tackle cutting-edge technologies. Ten years ago, we predicted that panoramic and 3D related optical products would have broad prospects, but at that time, many people questioned 'what's the use of shooting these?'? ’Nowadays, AI technology has significantly lowered the threshold for creation, especially for video editing. Products such as Yingshi 360 ° surround view and DJI surround view have become popular, which precisely confirms our initial judgment. ”Sunny Optical Technology President Wang Wenjie told reporters.
In the face of fierce market competition, as a global leader in optics, Sunny Optical Technology has always strengthened its layout at the forefront of technology and industry. "Being one step ahead" has enabled the company to remain calm and composed in the fierce market competition. Wang Wenjie told reporters, "Our decisions always revolve around our own optical core capabilities, to explore and define the real needs of the market. The core logic is always evolution and innovation
Evolution and innovation "is also the most distinct attitude exhibited by Ningbo enterprises in the face of intensified" internal competition ". From Jiangfeng Electronics breaking through the blockade of semiconductor sputtering target material technology, to Zhejiang Donghe Direct Drive conquering the core technology of industrial mother machine direct drive motor to achieve full chain independent controllability, and then to Nengguang and Yongqiang Technology respectively creating global segmentation benchmarks in the fields of functional polymer materials and high-frequency high-speed copper-clad laminates, Ningbo enterprises have been deeply rooted in the forefront of technology with the persistence of "ten years of grinding a sword", constantly breaking through from fierce market competition with one hardcore breakthrough after another.
Enterprises are innovation explorers and industry disruptors, while governments precisely play the roles of strategic planners, ecological builders, risk sharers, and service enablers to safeguard innovation. In the face of the challenges of shaping differentiated advantages, enhancing industrial chain resilience, and expanding incremental markets, Ningbo has provided a clear answer: to promote the aggregation of innovative resources towards the core track and accelerate the breakthrough towards the forefront of technology through a collaborative model of "government stepping up and enterprises singing the opera".
Ningbo's emphasis on innovation is hidden in its rapid response to corporate demands. At a symposium held by relevant government departments, Zhou Fang, Chairman of Xinzhi Biotechnology, bluntly stated that "the current talent policy in this city tends to favor high-end talents with doctoral degrees or above, and the manufacturing industry urgently needs practical talents." This solid voice directly promotes the rapid introduction of the "New Talent Policy" in Ningbo - allowing enterprises to independently identify practical talents, and after enterprises provide corresponding treatment, the government will provide proportional subsidies to make the talent policy more in line with the actual situation of the industry.
Not just that. Since 2025, Ningbo has strengthened the top-level design of innovation and promulgated and implemented the "Ningbo Science and Technology Innovation Regulations"; Develop special support policies, establish high-level innovation platforms such as Yongjiang Laboratory, and reduce the burden on enterprises through financial subsidies, R&D reserve system, etc; Strengthen the full chain protection and fault-tolerant mechanism of intellectual property rights, and use the "unveiling the list and leading the way" model to connect the industry university research collaboration link, creating a stable and efficient institutional environment for enterprise innovation
——The more challenges increase, the faster we need to accelerate our pace of going abroad. Manufacturing is the cornerstone of Ningbo's economy, while foreign trade is the accelerator for Ningbo's development. Faced with the pressure of the continuous escalation of global trade frictions, Ningbo's determination from the government to enterprises to face the wind and accelerate its overseas expansion is even stronger.
Joining forces to participate in the exhibition and expand the market, government enterprise cooperation to gather overseas cooperation. Faced with the challenge of going global alone, Ningbo has promoted enterprises to break through together through the "Yongtong Global" series of exhibitions. As of October 2025, over 300 companies have been organized to participate in exhibitions in 12 countries, with an intended transaction volume exceeding 500 million US dollars.
The export structure continues to optimize and accelerate the transformation towards high-end and intelligent products. Taking Junsheng Electronics as an example, in September 2025, the company was selected as a designated intelligent driving project by two global leading car companies, with a total lifecycle order value of approximately 15 billion yuan; In October, the company was once again designated as a global customer for intelligent electrification projects, with a total order amount of approximately 5 billion yuan. Through high-end intelligent driving orders, Junsheng Electronics has accelerated its transformation from a traditional automotive parts supplier to a "smart automotive solution provider", further enhancing its position and bargaining power in the global automotive industry chain.
Emerging markets are breaking through, and the Central and Eastern European markets have become new engines of growth. Faced with traditional market trade barriers, Ningbo enterprises are accelerating the development of emerging markets in Central and Eastern Europe. In the first three quarters of 2025, Ningbo's imports and exports to Central and Eastern European countries amounted to 45.45 billion yuan, an increase of 7%, which is faster than the city's average growth rate. For example, in the first three quarters, Hongyi Electronics' exports to the Central and Eastern European markets increased by 54.57% year-on-year. In order to closely meet the market demand in Central and Eastern Europe, the company has increased its research and development efforts in green and low-carbon products. Relying on technological advantages and excellent quality, the products have won high recognition in Central and Eastern European countries.
Cross border e-commerce is intensifying, and new business models are breaking through logistics bottlenecks. Ningbo Customs innovates synchronously at both the import and export ends, and the import end is the first in the country to implement "embedded supervision of package exit zones", achieving instant customs clearance; Through reforms such as "digital warehouse" and "direct transfer within the area", the export end has helped enterprises save 1 to 2 days of operation time and reduce logistics costs by more than one-third. From January to October 2025, the export value of Ningbo's cross-border e-commerce special area reached 4.799 billion yuan, a year-on-year increase of 16.9%, ranking first in the country; The value of bonded imported goods for cross-border e-commerce online shopping is 25.5 billion yuan, ranking second in the country.
　
　　——The more urgent the transformation, the more we must adhere to financial empowerment. The transition period often accompanies problems such as large funding gaps, high risks of technological iteration, and difficulty in resource integration. Through various tools such as special loans, transformation insurance, and equity financing, finance can not only fill the funding gap but also mitigate transformation risks. Accurate financial empowerment ensures steady progress in the transformation process, avoids resource misallocation, and becomes a stabilizer and accelerator on the road to transformation.
Ningbo takes the linkage of the three national level financial reform pilot projects as the starting point to build a "big finance" service system. In the first three quarters of 2025, the added value of the financial industry reached 122.43 billion yuan, a year-on-year increase of 13.8%. The balance of deposits and loans both exceeded 4 trillion yuan. From January to October, social financing increased by 419.06 billion yuan, injecting stable capital into the transformation of the manufacturing industry and the cultivation of emerging industries, and solving the problem of capital shortage during the transformation period.
The industrial upgrading during the transition period cannot be separated from the drip irrigation of precision finance. The reporter learned from the Financial Office of the Ningbo Municipal Committee that Ningbo continues to focus on the "361" modern industrial system and tilt financial support towards advanced manufacturing industries. As of the end of October 2025, the balance of manufacturing loans was 817.53 billion yuan, a year-on-year increase of 7.3%, ranking first in the province in terms of increment, providing continuous financial support for enterprise technological transformation and capacity upgrading.
Hard technology innovation is the core driving force for transformation, and Ningbo has overcome the financing difficulties of science and technology innovation enterprises with diversified financial tools. Introduce policies for high-quality development of technology finance, promote credit and bond financing subsidies, and achieve a loan balance of 381.142 billion yuan for technology-based small and micro enterprises by the end of September 2025, an increase of 27.19% compared to the beginning of the year.
The risk sharing mechanism is a key support for financial empowerment transformation. Ningbo builds a multi-level risk mitigation system to overcome the difficulty of financing. Through small loan guarantee insurance, 51000 small and micro enterprises were assisted in obtaining loans worth 51.575 billion yuan. The financing guarantee company has launched products such as "Huike Dang", with a maximum coverage ratio of 64%. As of the end of November 2025, the balance of science and technology innovation guarantee under insurance is 11.705 billion yuan, relieving the risk burden of enterprise innovation and transformation.
Practice internal skills diligently to cope with challenges
In the face of internal and external challenges, Ningbo has taken "hard work and internal strength" as the core focus to cultivate new quality productivity, and has embarked on a practical path that fits the characteristics of urban industries: based on the foundation of the real economy, deeply cultivating segmented tracks through advocating professionalism to build industrial confidence, relying on the deep integration of technological innovation and industrial innovation to solve development bottlenecks, and using the capital market to accurately empower and activate innovation momentum. The three are mutually supportive and organically linked, which not only responds to the challenges of the times, but also constructs the "Ningbo paradigm" for cultivating new quality productivity, providing valuable experience for the transformation and upgrading of manufacturing cities.
——To develop new quality productive forces, it is necessary to solidify industries and innovate with precision. The real economy has always been the root and soul of the economy. The growth path of champion enterprises in Ningbo has repeatedly proven that by adhering to professionalism, maintaining strong determination, staying focused all year round, focusing on sub sectors to achieve absolute leadership, and mastering industry discourse and pricing power, there is great potential.
In recent years, Ningbo has introduced a series of policy measures such as the "Action Plan for Focusing on Key Core Technologies to Build a Single Champion City in Manufacturing Industry (2020-2025)", the "14th Five Year Plan for High Quality Development of Manufacturing Industry", and the "Decision on Cultivating and Promoting the High Quality Development and Growth of New Productivity of Specialized, Refined, Unique and New Small and Medium sized Enterprises", all of which encourage and support enterprises to focus on key core technologies, deeply cultivate segmented fields, and take the path of "specialization, refinement, unique and new".
During the journalist's research in Ningbo, many interviewed entrepreneurs mentioned the development strategy of "choosing 'one meter wide' and digging 'a hundred meters deep'", which is in line with the business wisdom of the largest business gang in modern China - the Ningbo Gang - that "outsiders cannot go, experts cannot be lost". It is precisely this "craftsman spirit" that has enabled Ningbo's manufacturing industry to stand firm in the century long storms and bloom with new vitality in technological changes.
Entrepreneurs in Ningbo deeply understand that running a business requires decades of hard work and dedication. The ball crown cable, which originated from Beilun Electric Wire Factory in 1990, has grown from a small workshop on the brink of bankruptcy to a leading high-voltage/special cable company listed on the Beijing Stock Exchange and recognized as a national level specialized and innovative "little giant". The secret given by the company's general manager, Chen Yongzhi, is to focus on its main business, deeply cultivate its technology, and empower its capital.
Not only ball crown cables, but also Bode High Tech, which has been focusing on precision cutting wire for 18 years, breaking through the long-standing monopoly of Germany and Japan with micrometer level technology and occupying 40% of the global market share; With over 30 years of research and development in the field of high-end seals, we have persistently tackled the innate sealing of nuclear power C-type sealing ring technology with the determination to "conquer even at the cost of losing everything"; Focusing on the photovoltaic inverter track for 19 years, Jinlang Technology, with an average annual R&D investment of over 7% to enhance core technology and the world's largest market share, is one of the countless companies in Ningbo.
Against the backdrop of increasing internal and external challenges in the manufacturing industry, the role of a professional and focused "star chart" is becoming more prominent. In an interview with the media, Wu Zhiguang, Chairman of Ningbo Shuaitolong Group Co., Ltd., said, "Running a business is like holding an umbrella. The larger the umbrella surface, the weaker its ability to cope with strong winds. Only by tightly holding the handle of the umbrella can one walk more steadily and further in the wind and rain
——To develop new quality productive forces, it is necessary to promote the integration of "dual innovation". As a "champion city", Ningbo not only shines with stars, but also faces the problem of "lacking leaders and chain owners", which has become a key bottleneck affecting Ningbo's industrial transformation and urban positioning. This requires vigorously promoting the integration of technological innovation and industrial innovation in order to break through the ceiling and open up new development space.
Industry insiders say that many small and medium-sized enterprises in Ningbo's manufacturing industry are deeply engaged in segmented fields, forming a complete industrial ecosystem. However, in terms of breakthroughs in key core technologies and high-end brand building, they are struggling due to the limited strength of individual enterprises. This structure has constrained Ningbo's ability to resist risks and core competitiveness in the face of global industrial chain restructuring and technological changes, and it is also difficult to form a cluster effect of top enterprises like other core cities in the Yangtze River Delta. This is precisely the crux of the "dual new integration" that needs to be addressed.
Strengthening cooperation with chain leading enterprises is an important way to make up for the shortcomings. For example, in the automotive industry chain, after initiating strategic cooperation with Geely Holding in 2021, the Ningbo Municipal People's Government signed a further deepening strategic cooperation framework agreement with Geely Holding in October 2025. Tang Feifan, Deputy Secretary of the Ningbo Municipal Party Committee and Mayor, expressed the hope that the signing of this agreement will serve as an opportunity for both parties to work hand in hand in areas such as emerging technology research and development, industrial capacity enhancement, and deep integration of industry and city, further accelerating the deep integration of scientific and technological innovation and industrial innovation. Especially looking forward to Geely taking Ningbo as the strategic core position, further making Ningbo the focus of new quality productivity layout, and continuing to write a new chapter of strategic cooperation between the city and famous enterprises.
In the long run, the growth and cultivation of chain owned enterprises are more crucial. To achieve the leap of enterprises from being "single champions" and "little giants" to becoming chain leading enterprises, the key is to promote the integrated development of scientific and technological innovation and industrial innovation. Taking Changyang Technology as an example, although it has already occupied half of the global reflective film market, the company's revenue from reflective film business in 2024 is still less than 1 billion yuan. To open up the ceiling of performance growth and grow from a single champion to an all-around champion, Changyang Technology is accelerating its layout in the future industry of solid-state batteries, expanding businesses such as macroporous membranes and ion conducting membranes, and building the company into a super large platform company.
Our development strategy has been adjusted from 'world leading and leading' to 'first and only'. In Jin Yadong's view, to shift from following innovation in the past to primitive innovation, the most crucial thing is to promote the coordinated development of scientific and technological innovation and industrial innovation. 'We need to make Changyang Advanced Materials Research Institute the innovation carrier of the company, while strengthening cooperation with universities and institutes, accelerating the transformation of innovative achievements, so as to nurture more global first and only products and truly open up growth space.'
From a city wide perspective, Ningbo has introduced a series of policies to safeguard the "dual new integration". By building high-level innovation platforms such as Yongjiang Laboratory and Ningbo Materials Institute, we aim to strengthen the supply of original innovation; Establish a venture capital guidance fund to focus on supporting the development of technology innovation oriented enterprises; Build an industrial chain supply and demand docking platform to promote collaborative innovation between leading enterprises and supporting small and medium-sized enterprises. These measures are gradually breaking down the barriers of dispersed innovation resources and disconnection between industry and technology, allowing more enterprises to break through growth bottlenecks in the wave of "dual new integration".
——To develop new quality productive forces, it is necessary to make good use of capital and control it. Innovation, from technological conception to industrial implementation, requires sustained massive capital investment, and the capital market is an institutional arrangement that efficiently matches capital and innovation needs. Here, various capitals are gathered to allocate innovative resources in a market-oriented manner. A region that values capital and makes good use of the capital market is inevitably a place of active innovation.
Innovation begins with technological breakthroughs, but it requires capital investment to gain momentum. Among the 125 A-share listed companies in Ningbo, there are 46 national level individual champions and 38 specialized, refined, and new "little giants". They raise massive funds for technology research and development and capacity expansion through capital market tools such as listing financing and private placement bonds. Capital drives enterprises to integrate industrial chain resources, accelerate the industrialization of technological achievements, and perfectly interprets the innovative logic of "becoming from capital".
Jiangfeng Electronics, a leading domestic semiconductor target material company that listed on the ChiNext board in 2017, is a typical example. From 2017 to 2024, the company's revenue increased from 550 million yuan to 3.605 billion yuan, and its net profit increased from 64.03 million yuan to 401 million yuan. In the first three quarters of 2025, the company's revenue and net profit reached 3.291 billion yuan and 401 million yuan respectively, an increase of 25.37% and 39.72% year-on-year.
Behind the sustained and rapid growth of performance is the company's high emphasis on innovation and high-intensity investment in research and development, with the capital market playing a core support, "said Bian Yijun, Chairman and General Manager of Jiangfeng Electronics, to reporters. With the help of the IPO and refinancing, the company has ensured the continuous investment of research and development funds, strengthened the independent controllability of upstream raw materials, expanded production capacity, and served semiconductor customers well, forming core competitiveness; On the other hand, measures such as building an employee stock ownership platform and implementing equity incentive plans have enabled employees to share the company's development achievements, thereby attracting and retaining high-end talents.
The capital market gathers diverse capital and injects long-term momentum into new quality productivity. Currently, the management scale of private equity funds in Ningbo has reached 698.2 billion yuan, ranking seventh in the country, with over half of the funds invested in cutting-edge fields such as semiconductors, new energy, and biomedicine. Through initiatives such as the AIC equity investment pilot and the billion dollar angel guidance fund, we have guided capital to invest in small investments in technology early on. By 2025 alone, six AIC funds with an agreement size of 17 billion yuan will be established, making long-term capital and patient capital "incubators" for hard technology innovation.
Regions that value and make good use of the capital market are inevitably places of active innovation. The Ningbo Equity Trading Center (Ningbo Stock Exchange) has cultivated a total of 5816 enterprises and promoted the listing of 24 companies. Through the gradient cultivation of "seed bank, chick phoenix bank, and green phoenix bank", there are currently 389 companies in the Ningbo municipal level planned to be listed in the cultivation bank, covering a large number of "hard technology" enterprises. The capital market not only provides funds, but also builds a ladder for the growth of innovative enterprises, making Ningbo a hot land for the gathering of innovation subjects and the burst of innovation vitality. The cultivation of new quality productivity has great potential.
Managing and utilizing capital effectively is the key password for the sustainable development of new quality productivity.
The reporter learned from the Ningbo Securities Regulatory Bureau that in the next step, the Ningbo Securities Regulatory Bureau will cooperate with the Financial Office of the Ningbo Municipal Party Committee, the Economic and Information Technology Bureau, the Science and Technology Bureau and other units, as well as various district and county (city) governments, to strengthen communication and cooperation with the exchange. Through on-site visits, special training, promotion meetings and other methods, policy propaganda and interpretation will be carried out on the "1+6" reform of the Science and Technology Innovation Board, mergers and acquisitions of listed companies, and other policy measures. The guidance will be actively strengthened to further enhance the understanding of the "key few" of planned listed companies, listed companies and related personnel on the capital market's deep service to the integrated development of science and technology innovation and industrial innovation, and the service.
In terms of listing work, the Ningbo Securities Regulatory Bureau stated that it will strengthen communication and cooperation with the exchange, intermediary agencies, and prospective listed companies, guide companies to choose suitable application sections based on their own actual situation, and promote a wider coverage and more reasonable structure of the Ningbo enterprise listing application section. Thoroughly investigate the situation of strategic emerging industries such as biomedicine, semiconductors, artificial intelligence, commercial aerospace, and low altitude economy in Ningbo City, explore reserve enterprises that meet the listing standards of each sector, and work with local governments to carry out targeted listing assistance, accelerate the landing of typical cases, and form demonstration effects. At the same time, we will prudently support some high-quality enterprises engaged in international business, and make reasonable use of overseas capital markets in accordance with laws and regulations to become better and stronger.
Ningbo combines policy guidance with market operation, attracting capital aggregation through the "Phoenix Action" plan and equity investment special policies, and accurately connecting capital with future industries through innovative tools such as merger and acquisition loan pilot and science and technology innovation bond issuance. At present, over 90% of private equity funds in the jurisdiction are invested in unlisted innovative enterprises. By 2025, the pace of issuing science and technology innovation bonds and green bonds will accelerate, and various types of capital will work together to form an innovative ecosystem.
The surging east sea breeze is strong, and a new chapter is written by the Hangzhou Bay. Ningbo is based on the deep cultivation of individual champions, with future industrial breakthroughs as its wings, innovation and opening up as its pulse, and financial empowerment as its medium, to build a solid industrial foundation and activate innovation momentum. From the steady development of the "City of Champions" to the accelerated transformation of the "City of New Quality", this low-key and tenacious city is keeping its original intention with the spirit of craftsman, breaking the situation with the force of change, and writing the high-quality development answer sheet of the East China Sea coast on the journey of Chinese path to modernization. (End)