'We aim to promote cooperation in the fields of ports, logistics, trade, finance and tourism between Ningbo and Singapore,' said the vice-mayor of Ningbo city, Mr Wu He Min, in Mandarin on Monday.

'As a port city with over one thousand years of international trade history, Ningbo boasts free trade port zones and an international port hub for container shipping. We hope to promote mutual trade cooperation and friendly exchanges with Singapore.'

He was speaking at a press conference to launch the Ningbo week event in Singapore, organised by the government of Ningbo city.

Ningbo, whose port is one of the world's busiest, is involved in the transshipping of crude oil, coal and iron ore. The city is connected to the business hub of Shanghai by the Hangzhou Bay Bridge, which opened in May.

Ningbo has also indicated its plans to list more Ningbo companies in Singapore.

There is only one listed Ningbo company here now - China Precision Technology, a manufacturing services provider for consumer electronics, telecommunication and automotive industries.

Bilateral trade between Ningbo and Singapore reached a promising figure of US$555 million (S$827 million) last year, and exports to Singapore alone hit US$348 million.

Among some of Ningbo's goods which reached Singapore's shores are textiles, steel, plastic and chemical products.

Currently, there are 241 Singapore companies in Ningbo which have invested US$370 million there, while 20 Ningbo companies have pumped US$7.91 million in investments here.

The Ningbo week event is on at the Raffles City Convention Centre from Tusday to Thursday.