Qiu Dongyao, mayor of Ningbo, addresses a conference attended by 500 enterprise representatives held in Ningbo, East China's Zhejiang province on Dec 9. [Photo/cnnb.com.cn]

A total of nine investment contracts with a combined value of 21.7 billion yuan ($3.23 billion) were signed in Ningbo, East China's Zhejiang province on Dec 9.

The investments were all made by businesspeople from Wenzhou, another city in Zhejiang at a conference attended by 500 enterprise representatives.

Qiu Dongyao, mayor of Ningbo, expressed gratitude to the Wenzhou businesspeople for their contributions to Ningbo's development.

He said that since reform and opening up began, Ningbo has been maintaining stable economic and social development, which would not have been possible without the strong support of Wenzhou and the active participation of Wenzhou businesspeople.

Business opportunities have never been more plentiful, as the city strives to deepen reform, stimulate innovation and promote the integrated development of the Yangtze River Delta, he added.

The mayor expressed hope that more Wenzhou businesspeople from home and abroad will further cooperate with Ningbo and share development opportunities.

He also said that the local government will build a world-class business climate for them to work in.

The World Wenzhou Businesspeople Ningbo Initiative was also announced on the sidelines of the conference.