Ningbo boasts a long history. It is the birthplace of the "Neolithic Hemudu Culture" dating back more than 7,000 years. Ningbo has been a well-known key port for foreign trade ever since ancient time. In 2007, the city GDP reached RMB 343.3 billion, the GDP per capita RMB 61,032 (US$8,026), the revenue RMB  72.39 billion .
In 2007, the self-oriented import and export trade volume of Ningbo amounted to US$ 56.5 billion, increasing by 33.9% as compared with 2006.The growth rate of exports stayed middling in China. In 2007, the actual foreign capital utilized in Ningbo reached US$ 2.51 billion. All these achievements have laid a solid foundation for further development of Ningbo's export-oriented economy.