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.
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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)
“War. Fighting. Men ... every man in the whole realm is in the army.... Every man in uniform ... An economy entirely geared to war ... but there is not much war ... hardly any fighting ... yet every man a soldier from birth till death ... Men ... all men for fighting ... but no war, no wars to fight ... what is it, what does it mean?””
—Doris Lessing (b. 1919)
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)