The county-level city of Zhangjiagang in East China's Jiangsu province launched 36 new projects with a combined investment of 64.62 billion yuan ($9.98 billion) on Feb 26. The projects involve high-end industries, scientific and technological innovation, infrastructure, and more.

Jiangsu Shagang Group, a Global Fortune 500 company, will spend 35.5 billion yuan building seven advanced production lines in Zhangjiagang, which are mainly used to produce high-quality steel products with low energy consumption and high energy efficiency. The high-quality steel products will be used in areas such as new energy vehicles and intelligent manufacturing.

Meanwhile, Shanjin Optoelectronics plans to invest 7 billion yuan into the construction of its corporate headquarters and production base in Zhangjiagang. The project has two phases and occupies a total area of about 28.67 hectares. Shanjin Optoelectronics is expected to become the world's largest polarizer supplier after the new plant begins operating.

Hong Kong-based Xinyi Group announced that it will invest 5.6 billion yuan to set up four production lines for solar panels. The new project will use automatic production technologies independently developed by Xinyi.

In addition, Finednc Displays Technologies said that it will invest about 3 billion yuan in the city to build a new plant with 10 production lines, which are expected to have an annual production capacity of 7 million liquid crystal display modules. The company's authorities said that the new plant in Zhangjiagang will further improve the city's industrial chain for photoelectric displays.

According to local authorities, Zhangjiagang will focus on the high-quality development of the city's eight key industrial chains in order to promote the innovative development of the city this year.