Hangzhou launches 9 industrial, infrastructure projects

A total of 99 major projects with a total investment of 678.9 billion yuan ($94.23 billion) broke ground on July 4 in East China's Zhejiang province. Nine of them are from Hangzhou, the provincial capital, with a total value of 93.74 billion.

Three projects attracted an investment of over 10 billion yuan and two projects an investment between 5 billion and 10 billion yuan, according to an official from the Hangzhou municipal development and reform commission.

One highlight of the projects was the Hesheng new energy materials and devices module manufacturing project, with a total investment of 10 billion yuan. It mainly focuses on the production of new energy-related materials and devices for electric vehicles, energy storage, photovoltaics, and wind power.

Once completed, the project will not only strengthen the supply chain of the new energy, new materials, and intelligent internet of things industries in Xiaoshan district, but also play a significant role in promoting Hangzhou's digital economy and accelerating the formation of five major industrial ecosystems.

A Geely Automotive project consisting of the global headquarters and industrialization of intelligent steer-by-wire technology, with a total investment of 5 billion yuan, was another highlight. The project includes the construction of a headquarters office and R&D building, a steer-by-wire and electric power-assisted steering production line, a finished product testing center, and an experimental testing platform. It is scheduled to start construction this year and finish in 2025.