A total of 24 projects worth 14.86 billion yuan ($2.3 billion) broke ground in Xiaoshan district, Hangzhou, capital city of East China's Zhejiang province, on Aug 31, local media reported.
These projects involve the biological medicine, headquarters economy, integrated circuits, new materials, and smart manufacturing sectors.
The smart big health science and technology industrial base invested in by Hangzhou-based Yijia Health Management Co Ltd is expected to generate more than 500 million yuan in prime operating revenue per year after being put into production.
Both the parent company Yijia and its branch companies will operate in the industrial base.
Another main project is the testing center of Jubo Guojian Glass Research Institute Co Ltd. The company is expected to generate 3 billion yuan in operating revenue in the first year of its operation.
Infrastructure construction is another feature of the projects. With a total investment of 7.35 billion yuan, the Xiaoshan government plans to establish one more primary school, settlement buildings, and roads, as well as improve water supply channels.