Ningbo has seen notable improvement in business climate in recent years, according to recent reports.

A report released by the All-China Federation of Industry and Commerce in November ranked Ningbo seventh nationwide in terms of business climate.

The report was based on a survey that polled tens of thousands of private enterprises across the country from June to October.

Ningbo was also ranked 12th in the top 15 model cities in China for business climate which was unveiled in late October.

The city has emerged as a magnet for global investment by virtue of its congenial business climate. 

Four Fortune Global 500 companies have established a business presence in the city this year, bringing the total number of overseas Fortune Global 500 in the city to 67, official data from the Ningbo municipal bureau of commerce show. 

The strong results are down to a number of factors including law-based rules, transparent government procurement and optimized government services.

In the first 11 months of this year, the city accepted a total of 2,415 lawsuits related to domestic investment, among which 1,843 have been solved. It also accepted more than 500 cases related to foreign investment.