Yuyao beckons its overseas entrepreneurs to return

Outstanding entrepreneurs are selected at the third World Yuyao Entrepreneurs Convention in Yuyao city, Zhejiang province. [Photo/zj.zjol.com] 

Yuyao city in Zhejiang province held a conference on June 8-9 for its successful overseas entrepreneurs who established themselves in other parts of the world, to encourage them to return and contribute to the development of their hometown.

The meeting was attended by some 320 businessmen and well-known social figures that originally came from Yuyao or Zhejiang, as well as 200 local entrepreneurs.

A total of 24 major projects worth around 8.75 billion yuan ($1.26 billion) were inked, and 20 of Yuyao's native entrepreneurs were selected as "Outstanding Yuyao Entrepreneurs in A New Era", including Yao Lijun, president of Ningbo KFMI Electronic Materials Co, and Ye Liaoning, president of local optical product giant Sunny Group.

Yuyao's native entrepreneurs have contributed a lot to local development in recent years. Last year, a 10-billion-yuan scientific innovation center sponsored by Yuyao entrepreneurs began construction.

Investment from Zhejiang, especially funding from Yuyao's entrepreneurs, reached 9.16 billion yuan that year, and they donated around 21.8 million yuan to the city's public welfare undertakings.