Why Ningbo, China?

Ningbo, Yong for short, situated in northeastern Zhejiang province, is an important economic hub and port city. The city has a long history of over 7,000 years. The excavation of Hemudu Site confirms that Ningbo is one of the first places in the world for rice cultivation. Two thousand years ago, Ningbo was known as a trade city on the Silk Road route, and then later known as a major port, along with Yangzhou and Guangzhou during the Tang Dynasty. Today, Ningbo has developed as the fourth largest port city in the world and one of the top five metropolitan centers in the Yangtze River Delta. As a representative of Ningbo, they city’s port has been rated as "One of the Five Best Ports in the World" by the authoritative international magazine Container International.

The province of Zhejiang’s population numbers over 56 million and the GDP was RMB 5.17 trillion in 2017, with growth of 7.8% (YoY). The GDP per capita was RMB 92,057, with growth of 6.6% (YoY). Currently, the number of furniture enterprises in Zhejiang has reached 4,500, mainly in Ningbo and nearby cities. In 2017, the furniture industry in Zhejiang witnessed swift and stable development, the gross output of the furniture manufacturing industry reached RMB 5.17 trillion, with an increase of 7.8% (YoY). During January to November 2017, there were 807 large-scale furniture enterprises in Zhejiang creating industrial output value of RMB 93.38 billion, with an increase of 14.8% (YoY).

According to the data released by Ningbo Inspection and Quarantine Administration, Ningbo exported 28,962 batches of wood furniture with a value of USD 480 million in 2017, with a respective year-on-year increase of 14.6% and 17.1%. Exported wood furniture of Ningbo has healthy sales volumes in European, American, Japanese and other traditional markets. Ningbo has a multitude of wooden furniture production and processing enterprises. Exports cover solid wood furniture, panel furniture, frame furniture, wood flooring and wooden crafts, etc. As the transportation hub of Zhejiang, and the economic and commercial center of the Silk Road Economic Belt, Ningbo holds the International Furniture Fair every April, which has become a well-known annual industry event.

Ningbo Property Market:
▪ In 2017, the supply of new residential suites reached 54,821, up from 38% compared to the previous year
▪ In the first half of 2018, sales of commercial houses was 8.666 million square meters, an increase of 11.2% (YoY)
▪ In the first half of 2018, 41,845 commercial houses sold in Ningbo, an increase of 18.21% (YoY)