Eighteen projects from Taicang city have been shortlisted to receive finance from the Jiangsu provincial government.

The projects are set to receive a total of 9.3 million yuan ($1.50 million) from a fund dedicated to supporting industrial transformation.

The projects sponsored by the government are in the areas of transportation, modern logistics, financial services and information technology.

The projects are aimed at boosting high-tech and energy-efficient industries and the municipal authorities will ensure that the money will be spent wisely.