The third Global Ningbo Community and Development Partnership Conference is scheduled to open in Ningbo, East China's Zhejiang province on Oct 27, according to local media reports. 

The Ningbo Community, also known as Ningbobang, refers to a group of businesspeople who were born in Ningbo but live outside the city, usually achieving success by starting their own businesses. 

Renowned figures in the community include Hong Kong tycoon and philanthropist Yue-Kong Pao, Nobel Prize winner Tu Youyou, who is credited with discovering the antimalarial drug artemisinin, and former CAMS and PUMC president Gu Fangzhou.

Since the beginning of reform and opening-up, they have contributed significantly to Ningbo's development in terms of culture, education, healthcare, and talent cultivation. Statistics show that from 1984 to 2017, Ningbo Community members had donated 2 billion yuan ($298.5 million) to their hometown. 

This year's conference will include an opening ceremony, forums, cultural festivals, and signing ceremonies.

A facility specially designed to serve Ningbo Community members will also be established in the city on the sidelines of the conference.

A spokesman from the organizing committee said that the conference will draw strength from Ningbobang and those who are eager to invest in Ningbo, injecting vitality into the city's high-quality development.