The unearthed relics of the Hemudu Culture show that ship building in Ningbo area began about 7,000 years ago, in the Neolithic Age. Its reputation as a commercial city in history can be known by its ancient name: Maoxian County, meaning a Trade County and indicating the prosperity of trade.

In the Tang Dynasty, Ningbo was one of China's three major ports, trading celadon ware and silk goods with over 20 countries in South Asia including Japan and Korea. Thus the city was one of the biggest three in China at that time, the other two being Yangzhou and Guangzhou.

In the Song Dynasty, in the year 990, a government office responsible for foreign business affairs and tariff was established in Ningbo. Thus, in the South Song Dynasty, when the capital city moved to Hangzhou (called Lin'an at that time), the importance of Ningbo was even more enhanced.

In the Yuan and Ming dynasties, Ningbo was still a major port and trading center in China and enjoyed a prominent position in terms of trade and foreign business. However, in 1523, after Japanese escorts had robbed the city, and later Japanese pirates had invaded, the Central Government issued an order prohibiting any foreign business in Ningbo.

However, in 1842 after the Opium War Ningbo was made a treaty port together with the cities of Guangzhou, Xiamen, Fuzhou and Shanghai.

Traditionally, Ningbo people have been well recognized both at home and abroad for their talents in trading and business. Today, there are over 300,000 people of Ningbo origin living in over 64 countries and regions, many of them being successful merchants and known as the Overseas Ningbo Merchants, or Gang of Ningbo. Overseas Ningbo Merchants are representatives of those Chinese merchants who portray their tradition of the pioneering spirit, honesty, industry, and patriotism.