Recently, chairman of Ningbo Ruyi Joint Stock Co., Ltd, Chu Jiwang was honorably elected as vice president of China Federation of Private Entrepreneurs and Ningbo Ruyi was awarded as Vice President Unit accordingly.

As a nationwide social association, China Development Federation of Private Entrepreneurs is launched by some warm-hearted senior ministers and leaders of United Front Work Department, China Federation of Industry, National Federation of Trade Unions, Commerce Department, Ministry of Civil Affairs and Ministry of Science and Technology. The aim of the Federation is to promote the science development of China Private Economy and to improve the steadily development of private entrepreneurs.