At the World Internet Conference Wuzhen Summit on Nov 9, agreements for four projects from Quzhou were signed with a total planned investment of over 16.5 billion yuan ($2.26 billion), demonstrating the city's achievements and potential in the digital economy.

The four projects covered various fields, such as energy storage batteries, smart terminals, 5G internet of things' smart hardware, and servo motors and drives.

The project in the Smart Manufacturing New City is set to inject an additional 12 billion yuan into expanding the production capacity of energy storage batteries at Quzhou Penghui Energy Technology Co Ltd. With this investment, the company hopes to attain an annual operating income exceeding 28 billion yuan once production targets are met.

Kecheng district signed an agreement with Zhejiang Fanxi Technology Co Ltd to produce intelligent terminals, with a total investment of 2.25 billion yuan. It is expected to achieve an annual output value of 2.5 billion yuan after reaching full production capacity.

Qujiang district signed an agreement with Zhejiang UGreen Smart Technology Co Ltd to achieve an annual production of 12 million pieces of 5G IoT intelligent hardware, with a total investment of 1.15 billion yuan.

Longyou county's agreement with Zhejiang Hechuan Technology Co Ltd is to build an intelligent production base in the county, with 1.26 billion yuan in investment, aiming to achieve the mass production of core transmission components and related products.