In 2007, Ningbo ’s foreign trade volume reached US$ 56.51 billion, with export being US$ 38.26 billion and import US$ 18.25 billion. Contractual foreign capital reached US$ 4.5 billion, and the actual utilized foreign capital totaled US$ 2.5 billion. The turnover of undertaking projects and labor cooperation abroad reached US$ 1.15 billion. 118 foreign enterprises and institutions have registered in Ningbo , and Ningbo investment abroad exceeded US$ 100 million.

Ningbo ’s open economy in 2008 focuses on the following:

I. Make innovation, optimize investment, further upgrade  the quality of foreign capital utilization.

The city will actively introduce advanced manufacturing and modern service industry,  encouraging the development of electronic information, digital processing units, energy saving and environmental protecting facilities and other advanced manufacturing projects, actively attracting modern projects such as R&D, outsourcing of services, logistics and financial services. The technological transformation and  upgrading of traditional industries by foreign investment will also be encouraged. The introduction of  foreign investment on advanced port related-industry will be promoted.

Taking occasion of the opening of Hangzhou Bay Sea Bridge , Ningbo will innovate to attract more investment, with the World Top 500 companies, industry leading enterprises and the regional headquarters of transnational companies as the major objects, holding promotion activities in Beijing , Shanghai and some cities abroad. network investment Enhance the effectiveness of, and continue to pay attention to the forms of enterprises invitation such as attracting foreign funds by non-state-owned funds and attract foreign funds by foreign funds, encourage qualified private enterprises and foreign corporations to cooperate in the establishment of R&D, design and certification bodies and  upgrade the level of foreign investments in development zones.

The basis of investment optimization will be strengthened, and the city’s investment invitation network will be improved, with sources of foreign investment information expanded. There will be more quality requirement for the investment working staff, and training will be stressed.  Some new important investment projects will be put forward. “The Service Month for Foreign Investment Enterprises” will be improved both in appearance and contents.

II. Improve quality, optimize structure, and further solidify the basis of scientific development of foreign trade.

Foreign trade enterprises will be encouraged to improve product quality, to get international certification, to maintain the good image of Ningbo ’s export products. New export products will be encouraged to develop and the tone right on pricing is advocated, transforming more exports from "Made in Ningbo " into "Invented in Ningbo ". A new round of Ningbo Famous Export Brand selection will be conducted, and full play of Ningbo’s export brand image such as “red apples” etc., will be brought  into, to stimulate the city’s famous brand export. China International Consumer Goods Fair (CICGF), the number two fair sponsored by Ministry of Commerce, will be well developed, making full use of exhibitions domestically and internationally. The cooperation with the large international purchasing groups and trade centers will be strengthened, to promote more export products to enter the high-end market. Enterprises are encouraged to establish direct sale base abroad, forming its own international marketing network.

The enlightenment for import will be carried on, making every effort on the propaganda, training, and practice of import. Enterprises will be guided to import new equipments, new technology, new energy, new materials, promoting industrial upgrading. Lay emphasis on nurturing plastic, chemical and other imported raw materials market, encourage qualified enterprises to become agents of importing foreign middle and high-end consumer goods.

The ability to cope with the increased trade friction will be improved. Enterprises are encouraged to enhance design and research on safety, environmental protection, energy-saving, to breakthrough the trade barriers. Information exchange mechanism on fair trade will be improved, export warning mechanism on key sectors and important regions will be enhanced, and aid system for enterprises will be involved.

Ⅲ. Guide actively, broaden  the realm, and further upgrade foreign economic cooperation

    Focusing on projects such as overseas processing trade encouraged by the state, efforts will be made on actively promoting Ningbo enterprise investment abroad, uplifting their capabilities on international management. Ningbo industry upgrading and economic transformation will be promoted. Guidance will be given to enterprises with international business management capabilities to lay out overseas development strategy, to foster domestic cross-country companies to uplift international competitiveness. Guidance should also be given to large enterprises for overseas merger, to innovate overseas investment modes and fruit cooperation results.

To gain the strength of Ningbo enterprises to go global, emphasis should be laid on building overseas economic and trade cooperation base. Special attention should be paid to the work of Mexico-China(Ningbo) Jili Industrial and Economic Trade Cooperation Zone, Brazilian Trade Center , Benin Trade Center and Nigerian Economic and Trade Center . Efforts should be made to enhance cooperation with our overseas cooperation zones, to  prepare for the  first China Overseas Economic and Trade Cooperation Zones Investment Forum, and  create preferential advantages for Ningbo enterprises in their overseas investment .

Ⅳ. Lay solid foundation, overcome difficulties and make further breakthrough in international service trade

Perfect Ningbo ’s international service trade mechanism and to strengthen the guidance in key business areas. While promoting investment attraction on international trade, international logistics, overseas construction contracts, modern service trade, breakthrough should be achieved in international exhibition and overseas outsourcing service.

Preparations will be made to set up promotion mechanism of the city’s overseas outsourcing service, making breakthrough in  areas like software, R&D, designing , logistics, petrochemical , IT and finance , and make greater efforts in exports of outsourcing service.

   The construction on Ningbo international Exhibition Center will be further pushed, striving to organize more international fairs, upgrading the present exhibitions. The second phase of the Permanent Show Center will be activated, and the online show platform will be set up, creating the environment, setting the International Exhibition Center on the right track.

Ⅴ.Improve system, build platform, lay emphasis on upgrading the public service of foreign trade and economy

Public service system will be optimized, public policy will be improved, with public information service enhanced, public training broadened, and public order maintained on foreign trade and economy.

In order to adapt to the continuous development of Ningbo ’s foreign trade and economy, trainings should be enhanced on capable talents of foreign trade and economy, especially on those dealing with practical foreign trade, outsourcing of services, investment attraction, and foreign trade cooperation. Apart from that, sound conditions should be created for foreign trade-related units to absorb expertise by holding talents-recruitment events, organizing talents-recruitment events in Zhejiang Investment and Trade Symposium and Ningbo Science and Technology Talents Week.

Importance will be stressed on the online foreign trade service platform, providing timely information and excellent service, and strengthening cooperation with media, internets and other institutions.