Foreign-funded projects give Zhejiang development boost

The Zhejiang Investment Forum takes place in Ningbo, Zhejiang province on June 7. [Photo by Gao Yuan/For chinadaily.com.cn]

Contracts on 24 projects, including 14 foreign-funded ones, were signed at the International Investment Forum of 2018 China Zhejiang Investment and Trade Symposium in Ningbo, Zhejiang province on June 7. 

More than 700 people from around the world, including some 200 representatives from transnational corporations, attended the forum and sought cooperation opportunities in China. 

The foreign-funded projects, with a total investment of 31.03 billion yuan ($4.86 billion), cover the fields of new energy, high-end equipment manufacturing, new materials, information technology, transportation and logistics. 

These projects highlight the scale of Zhejiang's ambitions and efforts to create a favorable environment for foreign investment and businesses. 

Zhong Congjiu, vice governor of Zhejiang, summarized the province's robust development since China launched the reform and opening-up policy 40 years ago, saying Zhejiang has taken full advantage of the domestic and overseas markets and has gradually grown into a region with great economic strength. 

Sheng Jianqiu, director of Zhejiang's Department of Commerce, introduced the province's policies on international investment to foreign guests. He pledged that they will offer support to more foreign businesses in the future.

After the addresses given by officials, a discussion on the digital economy was conducted among businessmen from Switzerland, Germany and Zhejiang. They shared ideas on the role of the digital economy in the development of the global economy. 

To better promote collaboration between corporates and cities in Zhejiang, the International Investment Forum also arranged special sessions for them to have face-to-face talks.