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Shaoxing in East China’s Zhejiang province held a signing ceremony for 31 new projects worth 149 billion yuan ($22.5 billion) on Feb 8.

The projects cover fields such as electronics and information, biomedicine, new energy, high-end equipment, and new materials. Among them are 11 projects worth over 5 billion yuan, four projects worth over 10 billion yuan, and one project worth over 50 billion yuan.

The Zhejiang Shiguang new energy battery project, for example, has a planned investment of 10.3 billion yuan and will see the construction of a research and development center in the Hangzhou Bay Economic Development Zone in Shaoxing.

In 2022, Shaoxing has already attracted 63 industrial projects worth over 10 billion. The city's actual foreign investment also exceeded $1.5 billion for the first time.