Copyright 2019 - Custom text here

Ningbo finalizes roadmap to become a city of software

The details of the efforts to build Ningbo into a city known for software with its characteristics have been released recently, including some of the following. Companies that win the titles of top 100 software companies, top 100 Internet companies and unicorn software companies will be rewarded 2 million yuan. Programs funded by national subsides will be given another fund of no more than 50% of the amount of the national subsidies and the fund for each program will not exceed 1 million yuan. These details serve further clarity the roadmap for the development of software and IT-based service sectors. According to the plan, Ningbo will, by means of policy support, make more efforts to support and attract investment to Ningbo software industrial park and encourage businesses to prosper and innovate.

 “To speed up software and IT services and our bid to turn Ningbo into a city known for its software capacity are the concrete actions to implement the notion of ‘letting industries taking the lead’, but are also the urgent and inherent needs to promote our industrial clusters.” said  Ningbo Economic and Information Bureau. The software and IT-based services in Ningbo have reached a satisfying scale after years of growth.

In 2018, there were almost 700 registered software and IT-based service businesses. However, the development of these companies in Ningbo still lag behind some of the biggest players in China including Shenzhen, Nanjing, Hangzhou, Guangzhou and Chengdu, hence the urgent need to catch up.

By the end of September in 2018, Ningbo placed its focus on the pain point in the high-quality development of manufacturing sector. By focusing on industrial software, built-in software and Internet-connected industrial operational software, Ningbo aims to produce application software for smart manufacturing and industrial software that can serve the needs of businesses so as to remove barriers for the manufacturing sector in Ningbo at this critical juncture.

Take key areas as an example, Ningbo provides financial reward up to 1 million, 2 million and 3 million yuan to non-built-in software enterprises with an annual revenue generated by software business of 50 million, 100 million and 200 million yuan respectively, and to built-in software companies, integrated system companies and IT-based service companies with an annual revenue generated by software business of 100 million, 200 million and 500 million yuan respectively. Efforts will directed to build a “Yongjiang Software Valley and Smart Connection Bay” and Ningbo will prioritize Ningbo software park in the allocation of resources and strengthen the centralization and the leading position of Ningbo software park across the board through the introduction of a number of high-end innovation institutions and innovative businesses and talents. This way we can turn Ningbo into a hub in China’s software sector. 

  Ningbo’s software and IT-based service sector has maintained a double-digit growth for more than 10 straight years thanks to our efforts. In the first quarter of 2019, the total revenue generated by software business reached 15.71 million yuan, representing a 22.3% year-on-year growth, which is 7.9% higher than the national average growth rate

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