The port city of Zhangjiagang in East China's Jiangsu province plans to cultivate five high-level industrial clusters to promote the city's development. [Photo/VCG]

The 2020 China (Zhangjiagang) Business Week was held in Zhangjiagang, East China's Jiangsu province, on Oct 31, with deals for 68 projects worth 61.5 billion yuan ($9.2 billion) signed during the event.

At the signing ceremony, Zhangjiagang released a development plan to cultivate eight industrial chains related to metallurgy and new materials, intelligent equipment, chemical new materials and high-end textiles, new energy resources, the digital economy, biomedicine and high-end medical apparatus and instruments, and advanced semiconductors in order to strengthen the city’s core competitiveness and increase dynamism for sustained growth.

Local authorities have said that a special working mechanism will be set up in the city to attract high-quality companies and strengthen the city's industrial chains.

Pan Guoqiang, Party secretary of Zhangjiagang, said that the city will strengthen efforts to promote the integrated development of its industrial and innovation chains. By 2025, Zhangjiagang is expected to cultivate five high-level industrial clusters, each with an annual output value of over 100 billion yuan.