The Global Ningbo Community and Development Partnership Conference opens in Ningbo, East China's Zhejiang province, on Oct 27. [Photo provided to chinadaily.com.cn] 

The Global Ningbo Community and Development Partnership Conference opened in Ningbo, East China's Zhejiang province on Oct 27.

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. 

The opening ceremony witnessed the signing of 26 investment deals with a combined value of 35 billion yuan ($5 billion).

The investments primarily covered sectors such as high-end equipment, new materials, biomedicine, digital economy, smart manufacturing, artificial intelligence, and modern services. 

In addition, tech giant Alibaba and CityDo, a Hangzhou-based provider of smart city development solutions, also reached strategic cooperation agreements with the government of Haishu district.

The conference, now in its third year, is expected to inject new momentum into the city's high-quality development.

A total of 26 investment deals with a combined value of 35 billion yuan ($5 billion) are signed at the opening ceremony. [Photo provided to chinadaily.com.cn]