Conference to post deals valued at 110b yuan

Updated:2019-10-16 (chinadaily.com.cn)

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The second Global Ningbo Community and Development Partnership Conference is set to be held from Oct 17 to 19 in Ningbo, East China's Zhejiang province. [Photo/cnnb.com.cn]

More than 1,100 guests from around the world, including business leaders, experts and scholars, will descend upon Ningbo to attend the second Global Ningbo Community and Development Partnership Conference to be held from Oct 17 to 19, according to a press conference held on Oct 15.

The number of attendees represents a growth of 50 percent over last year's event.

The conference will shine a spotlight on the accomplishments Ningbo Bang has made over the past seven decades and promote efforts to advance the city's high-quality development.

Ningbo Bang, also known as Ningbo Community, originally referred to a group of businessmen who were born in Ningbo but lived outside of the city, usually achieving success by starting their own businesses.

Now, the term has expanded to refer to any Ningbo native who currently lives outside of the city.

This year, the conference will include an opening ceremony, seminars and cultural and food festivals.

It will also see the signing of 16 investment projects with a cumulative value of 110 billion yuan ($16.4 billion).

Statistics show that from 1984 to 2017, Ningbo Bang members donated 2 billion yuan to their hometown, contributing considerably to the city's development in terms of culture, education, health care, and talent cultivation.

Over the same period, more than 8,100 businesses receiving investment from overseas Chinese set up operations in Ningbo, with their total value topping $50 billion.