Ningbo receives $18b in investment
A signing ceremony for 16 projects is held at the opening ceremony of the 2nd Global Ningbo Community and Development Partnership Conference on Oct 18. [Photo provided to chinadaily.com.cn]
A total of 52 deals worth 128.3 billion yuan ($18.1 billion) were signed during the 2nd Global Ningbo Community and Development Partnership Conference from Oct 17 to 19.
The projects involve high-end manufacturing, transportation infrastructure, new energy, and more. They are expected to inject new vitality into the city's social and economic development.
According to the organizer, a total of 1,150 guests, including entrepreneurs, academics, and government officials, attended the conference, which was aimed at spurring the city's modernization efforts.
The high level of participation at the ceremony and enormous investment in the signed projects would not have been possible without strong confidence in the city's development and the local government's full support.
A large portion of attendees were members of Ningbo Bang – a group initially made up of successful businessmen who were born in Ningbo but later left the city and became committed to helping develop their hometown. It has now expanded to include people who were not born in Ningbo but wish to invest in the city.
Sun Qilie, vice president of the Ningbo Chamber of Commerce, said the conference served as an exchange platform for Ningbo Bang members. "In the past, older members donated to help establish schools and hospitals. Today, new-generation members focus on cooperation in trade, technology, and talent."
At the opening ceremony of the conference, several investors mentioned "great confidence in Ningbo's future" when they were asked why they chose to invest in the city.
The historic port city of Ningbo, located in Zhejiang province, is striving to improve its economy with a more modern system and strategically important industries.
The city has formed an overall development program consisting of three plans: the "246" plan for advancing the manufacturing industry, the "225" plan for boosting international trade, and a plan to improve port services.
Most of the signed projects announced during the conference are an important part of the city's three plans, which will be thoroughly discussed during the conference.
Government officials explained Ningbo's achievements and goals to attendees and pledged to optimize the city's business and policy environment.
To encourage more people to carry out projects in Ningbo, the local government granted the title of "honorary citizen of Ningbo" to 25 people from around the world who made significant contributions to the city's development at the opening ceremony of the conference.
A total of 1,150 guests, including entrepreneurs, academics, and government officials, attend the conference. [Photo provided to chinadaily.com.cn]
Several guests talk about why they chose to invest in Ningbo at the opening ceremony on Oct 18. [Photo provided to chinadaily.com.cn]