Founded by the Ningbo Municipal Government, Ningbo Office of Ningshing Development Co., Ltd (Hong Kong), and Ningbo Ningshing Co., Ltd, functioned as an agent of Ningshing Development Co., Ltd (Hong Kong) for the management of Sino-foreign projects.
Ningshing started to adjust its strategy and put forward development direction as to get foothold in Ningbo, to develop both domestic and foreign markets, and to expand its business areas to Financing, Real Estate, Trade and Investment. Since then the Company has been transformed from an agent under planned economy into a comprehensive market-oriented operating company. And thus began Ningshing’s first Grand Undertaking. The period was highlighted by the successful cooperation with China United Telecommunications Corporation in 1995 to invest in China Unicom GSM project in Ningbo, which however improved the Company’s business structure, increased its business strength and expanded its social influence. Furthermore, the JV project broke the monopoly in the telecommunications at that time in Ningbo and fastened the reform of the telecom-industry, which brought significant benefit to the general public of Ningbo.
Focusing on both domestic and overseas markets and resources, Ningshing formulated its development strategy as to deepen its main business, diversify its business portfolio, and become more internationalized, industrialized, conglomerated and diversified. The Company aimed to highlight investment as its core business and to strengthen its commitment in trade, financing, information technology and industry development. Thus began Ningshing’s second Grand Undertaking.
By the End of 1998
Following the instruction from the executive meeting of Ningbo municipal Government, Ningshing assumed the trusteeship for the former Ningbo Import & Export Corporation. After hard efforts on business reconstruction and consolidations, there were fundamental changes in Ningshing’s business structure, business capacity, management system and HR development. The business strength and resource were then improved and upgraded.
Ningshing was renamed as Ningbo Ningshing Group Corporation with 10 subsidiaries. In accordance with its objective as to be stronger and more professional, Ningshing established its group organizational structure and functional settings, and gradually formed its business pattern with Foreign Trade and Economic cooperation as its main business, while seeking equal development in fields of investment, domestic trade and industrial projects.
Approved by Ningbo Municipal Government, Ningshing was reformed and restructured into Ningbo Ningshing Corporation, a share-holding company with five founding members, namely, Ningbo Ningshing Investment Co., Ltd, Ningbo Port Beilun Co., Ltd, Ningbo Tengshing Investment Co., ltd, Ningshing Employees Shareholding Committee and Mr. Wu Yigang. According to its development strategy, the newly established Ningshing formed a diversified business portfolio composed of Import & Export Trade, Investment, Real Estate, Storage & Logistics, Domestic Trade and Labor Export as its core business. Adhering to its corporation Tenet as to create value for the customers, create opportunities for employees, create wealth for shareholders, and create benefits for society, Ningshing strived to integrate resources, optimize performance, develop foreign and domestic markets, enhance international competitiveness, and to achieve new breakthroughs and development.
Ningshing implemented the reform of foreign trade system and established Ningbo Ningshing International Inc. to conduct the professional operation of foreign trade. And correspondingly the headquarter of Ningshing started to focus on the function of strategic decision, supervision of the enterprise operation, equity operation and multi-industry operation, aiming to create and consolidate comprehensive strength and reaction mechanism with a better market competitiveness.
Ningshing was renamed Ningbo Ningshing Holdings Corporation and implemented two rounds of increase in capital and shares. This was an important step for the break-through of its capital bottleneck and its function transformation, which laid foundation for the company’s further expansion of business and increase of development strength.
Suffered from the severe impact of the global financial crisis, Ningshing and its staff advanced collaboratively against hardship, overcame the difficulties with persistence and converted efforts, and did every effort to protect Ningshing’s rights and interests. During this period, Ningshing cultivated a strong-minded and excellent teams, learned more precious experiences and maintained a stable growth of the development.
Facing new economic and business condition, Ningshing set to carry out transformation and upgrading. Focusing on the trade and service as its core business and through the innovation of mechanism and model, Ningshing endeavored to promote the strategic improvement of operation structure and profit model. Concentrated on specialized operation and by resource integration and strategic cooperation, Ningshing strived to build new competitive advantages in business mode, business field and management style, actively invested in the projects with high prospects and advantages, and tried to maximize investment efficiency and enterprise value.