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Ningbo is located at the middle part of China's eastern coastline and southern flank of the economically developed Yangtze River Delta, bordering on Shanghai and Hangzhou. Ningbo is one of the cities opening up to the outside world, an independently-planning-city enjoying the same rights as those of a provincial government in economic and trade administration and management, “a large city” entitled to formulate local laws and regulations, and a famous historic city with rich cultural heritages. It covers an area of 9,816 km2 and has a population of more than 8 million.
Ningbo has good conditions for economic development. Since the reform and opening, the city's economy and society have developed rapidly. Ningbo has become an important industrial city and foreign trade port in east China, a central city and heavy chemical industry base in the south wing of the Yangtze river delta, and an economic center of Zhejiang province. In 2018, ningbo will achieve a GDP of 1074.55 billion yuan and become a city with a GDP of 1 trillion yuan. In terms of comparable prices, this is an increase of 7.0 percent over the same period last year and the growth rate is 0.4 percentage points faster than the national average. According to the calculation of resident population, the per capita regional GDP of the city is 124,017 yuan (equivalent to 18,368 us dollars at the