Ningbo was from an early period itself a port, although the mouth of the river was masked by a mud bar. It has an outport, Zhenhai, on the western bank of the estuary, which originally had been a fishing port. The city first rose to importance during the latter part of the 5th century, when Korean shipping found it to be the most convenient port for contact with the southern capital at Jiankang (present-day Nanjing).

Ningbo is also the hub of a water-transportation network of coastal junk traffic and canals. It is a collection center for cotton and other agricultural produce of the plain, for the marine products of the local fisheries, and for timber from the mountains in the hinterland, and it is a major distribution center for coal, oil, textiles, and consumer goods. In 1984 Ningbo was designated one of China’s “open” cities in the new open-door policy inviting foreign investment.

You can notice the city's strong Buddhist connections boasting a number of visually-impressive, historical temples.

The first character in the city's name ning means "serene", while its second character bo translates to "wave". The city is abbreviated for the eponymous "Yong Hill", a prominent coastal hill near the city, and the Yong River that flows through th city.