Zhejiang has long been known for its shrewd businesspeople. Private enterprises took off in the 1980s when China started implementing market reforms.

The private economy in Zhejiang has become a pillar of the local economy, accounting for nearly 66 percent of the gross domestic product and providing 87 percent of jobs, according to Che.

Zhejiang has 92 companies listed among the top 500 private companies in China, more than any other province, a position which the province has maintained for the past 21 years. 

A total of 124 projects with an agreement investment of over 300 billion yuan are signed. [Photo provided to chinadaily.com.cn]

At the opening ceremony, three service platforms were launched to serve global Zhejiang entrepreneurs in finance, startups and other business sectors.

A total of 124 projects with an agreed investment of over 300 billion yuan ($43.7 billion) were signed to fuel the province's future plans and promote the development of cities along Yangtze River Delta area.

In addition to the opening ceremony and a main forum, the two-day event will also host 27 supporting activities focusing on digital economy, scientific innovation, and talent exchange.