The eighth Ningbo Talent Week, which will be held from September 13-17, aims to attract thousands of professionals with bright ideas for new business, scientific research and creative designs.
The annual fair attracts professionals in many fields and postgraduates from major universities, all hoping to settle in Ningbo and make more contributions to the city.
By the end of last year, 3,499 returning overseas professionals had settled in Ningbo. Last year alone, 947 professionals started up their businesses in Ningbo, up 88.7 percent from a year earlier.
It is part of China’s Thousand Talents Program that aims to attract professionals from all over the world, who agree to settle in China and receive subsidies and benefits.
Ningbo maintains a two-digit annual economic growth rate in the past few years.
In 2012, the city's GDP reached 652.47 billion yuan (US$106 billion). The city’s fiscal revenue reached 153.65 billion yuan.
Though its land area represents less than 10 percent of the total of Zhejiang Province, Ningbo contribured around 20 percent in GDP and fiscal revenue.
Ningbo Talent Week has contributed to the city’s achievements. The event originated in the Ningbo High-end Talent Fair in 1999, when the government announced that all talented people with postgraduate degrees or sub-senior professional titles would receive transportation subsidies if they came to work in the city of Ningbo.
Ningbo was the first city to award such subsidies to talented people and the talent fair soon became famous, inspiring other technology fairs, conferences and talent recruitment.
In 2006, Ningbo expanded the talent fair to Ningbo Talent Week, incorporating other talent-recruiting and technology events.
In 2007 educational activities were added, making it a comprehensive platform to attrack projects, professionals and technology.
Ningbo aims to raise the number of talented returnees who start businesses to 10,000 by 2020.