As of November 30, 2,250 Ningbo companies had invested US$10 billion in 116 countries and regions, making Ningbo the fourth 3rd-tier city in China with outbound investments exceeding $10 billion.

In response to China's "One Belt, One Road" initiative, the Ningbo government encourages and helps local enterprises to go aboard and find overseas partners. Fund management companies in Meishan Port Bonded Area began to offer services for overseas mergers and acquisitions and were involved in 16 M&A projects last year.

Ningbo companies opened 38 factories or trading facilities in 17 countries covered by "One Belt, One Road" last year, totaling US$300 million in investment. New destinations include Samoa, Finland, Kenya and Anguilla.

Most of these companies invested in commercial and manufacturing projects, totaling US$750 million and US$590 million respectively.

Ningbo also established 15 overseas industrial parks, including three inaugurated last year. The city government said it will encourage and assist more local companies to launch businesses abroad, set up overseas R&D centers and sales channels, and accelerate overseas mergers and acquisitions.