Binhu district in Wuxi, East China's Jiangsu province aims to achieve sustainable and high-quality economic development. [Photo/WeChat account: wxbhfb]

Mashan sub-district in Binhu, Wuxi, East China's Jiangsu province recently initiated an ecology-oriented development (EOD) project to explore green development approaches.

The project, the first of its kind in Wuxi, represents an investment of 1.18 billion yuan ($177.09 million) and has received long term loans of 900 million yuan from the China Development Bank.

EOD is a strategy that integrates environmental conservation projects that have meager economic benefits with highly profitable related industries to achieve a balance between environmental protection and economic growth.

According to the plan, the Mashan EOD project will involve water environment restoration, road landscaping, construction of industrial facilities, as well as other undertakings.

In the next step, Binhu district will work on another EOD project in the Helie sub-district and the Rongxiang sub-district. This project, which is being promoted by Wuxi Binhu State-owned Capital Investment Co, is expected to raise more than 10 billion yuan in funds.