FLBS is 2020 is a new college established on the basis of the former College of Electronic Commerce and College of Economics and Management. Its predecessor, the School of Economics and Management, was one of the three earliest faculties established in Nanyang Polytechnic, and after more than 30 years of unremitting efforts, it has become the premier business education and teaching base and knowledge resource center in the southwestern part of Henan Province. The college has now become a member of the Accreditation Council for Business Schools (ACBSP).

FLBS has set up seven general undergraduate majors, including big data management and application, business administration, financial management, international economics and trade, marketing, e-commerce, and international business, etc. Among them, three majors, namely financial management, marketing, and business administration, are first-class undergraduate majors at the provincial level, and the major of international economics and trade is a first-class major at the university level, with 27 first-class courses at the provincial and university levels. Business Administration is a key discipline in Henan Province. There are nearly 2876 full-time students. It has carried out joint cultivation of master's degree with Henan University of Science and Technology and Zhengzhou University of Light Industry.

FLBS takes the cultivation of applied talents as the schooling characteristics, actively promotes and implements the industry-teaching cooperative education mode combined with local industries, strengthens the cultivation of students' practical ability, and implements the dual-mentor system for the cultivation guidance of the students: there are academic mentors as well as industrial mentors; the cultivation effect requires two recognition: both students' and enterprises'. Co-establish with local leading enterprises the “New Retail Industry College”, a key modern industry college in Henan Province, to create a platform for industry-education integration that integrates talent cultivation, scientific research, technological innovation, enterprise services, student internships, employment and entrepreneurship. 2023. The college is recognized by the Henan Provincial Department of Education as a provincial-level model college for integration of industry and education.

FLBS focuses on undergraduate courses and is based on international vision. since 2004, the college has launched cooperative education with Victoria University of Wellington in New Zealand, introduced foreign high-quality teaching resources, jointly cultivated more than 2,000 students, and sent more than 300 international students to New Zealand. in 2024, the college began to recruit 30 international students in the fall of the year.

In conclusion, FLBS at NIT currently administers 6 undergraduate degree programs , with three of the undergraduate programs actively seeking ACBSP accreditation:

Bachelor of Management

(1) Business Administration

(2) Financial Management

(3) Marketing

(4) E-Commerce

(5) International Business

Bachelor of Economics

(1)International economics and trade