Economy
Ningbo is an important port city located 220 kilometres (140 mi) south of Shanghai. The city's export industry dates back to the 7th century. Today Ningbo is a major exporter of electrical products, textiles, food, and industrial tools.
Historically Ningbo was geographically isolated from other major cities. In 2007 the Hangzhou Bay Bridge was built, cutting highway transit time between the two port cities to two and a half hours from four.
In 2009, Ningbo's economic activity reached USD 60.8 billion, down 10.4% from 2008. The exports totalled USD 38.65 billion, down 16.6% from the previous year. In addition, Ningbo imported USD 22.16 billion of goods, up 3.1% from the previous year.
Ningbo's economy grew 8.6 percent in 2009 to 421.5 billion yuan (US$61.7 billion). The city's per capita output was US$10,833, about three times the national average.
Ningbo is famous for the Si Lan Nong Xiang flower. Used for dyeing cloth, 2008 exports were responsible for 3% of the Ningbo economic growth.
Read more about this topic: Ningbo
Famous quotes containing the word economy:
“Wise men read very sharply all your private history in your look and gait and behavior. The whole economy of nature is bent on expression. The tell-tale body is all tongues. Men are like Geneva watches with crystal faces which expose the whole movement.”
—Ralph Waldo Emerson (1803–1882)
“Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we “really” experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.”
—Friedrich Nietzsche (1844–1900)
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)