Zhangjiagang in Suzhou, East China's Jiangsu province, launched 15 projects with a combined investment of 26.7 billion yuan ($4.11 billion) on March 5. [Photo/zjgonline.com.cn]

A total of 15 projects with a combined investment of 26.7 billion yuan ($4.11 billion) were launched in the Zhangjiagang Economic and Technological Development Zone on March 5, according to a local news report.

The projects involve a variety of fields, including optoelectronics and semiconductors, new energy vehicles, new energy resources, and biological medicine, all of which are expected to become new engines for the city's high-quality development and stimulate innovation.

Han Wei, mayor of Zhangjiagang, said that in recent years, the city has been beefing up efforts to accelerate the development of its leading industries and convinced a number of world-leading enterprises to invest in the city, including Spotlight Automotive Ltd., a joint venture invested by BMW, Great Wall Motors, Tencent, DuPont, and Xinyi Solar Group.

The 15 newly-launched projects will help the zone foster an emerging industrial cluster and pursue high-quality development, added Han.

This year marks the start of the 14th Five-Year Plan period (2021-25), and Zhangjiagang plans to stick to its innovation-driven development strategy and accelerate the building of a modern industrial system. The city plans to further optimize its business environment to offer more pragmatic measures and more efficient services to enterprises in an effort to develop into an attractive investment destination for domestic and foreign enterprises, according to Han.