The Ningbo Software Park was established in September 2018 and is situated in the high tech development zone in Yinzhou district, Ningbo.

It is part of local government efforts to build the city into a national software hub in China.

The park now houses six major software industrial ecosystems, namely 5G and industrial internet, Internet of Things and smart manufacturing, artificial intelligence and big data, industrial applications and open source software, network information security, and software talent training.

Official data shows that as of September 2019, more than 500 software companies and platforms had set up operations in the park, with their accumulative investment valued at 16.83 billion yuan ($2.5 billion).

In 2018, the revenue of the park's software and information service sectors soared 40 percent to 18.2 billion yuan, accounting for roughly one-third of the city's total revenue，and over the first few months of 2019 the aforementioned sectors were valued at 13.85 billion yuan, a yearly uptick of 64.1 percent.

A number of heavyweights in the software sector have set up branches in the park, including Huaiwei, HollySys, MEGVII, and Bytedance.

According to the park's development guidelines, released by local authorities, it is hoped that the revenue of its software and information service sectors will reach 80 billion yuan, or more than 50 percent of the city's total revenue, by 2022, and 300 billion yuan by 2030.

A panoramic view of Ningbo Software Park in Yinzhou district, Ningbo. [Photo/cnnb.com.cn]