A signing ceremony for 18 key projects to be carried out in Yiwu is held on June 28. [Photo/zgyww.cn]

Agreements for a total of 18 key projects with a total investment of 26.5 billion yuan ($3.95 billion) were signed to be carried out in Yiwu, East China's Jiangsu province, on June 28.

The projects focus on the development of the new economy, featuring new energy and new materials, high-end manufacturing, modern logistics, and business services.

Chint Group, a world-renowned provider of smart energy system solutions, agreed to spend 11.3 billion yuan on the construction of photovoltaic cells, module production bases and distributed power stations. The project is expected to comprehensively consolidate the advantages of the photovoltaic industrial cluster in Yiwu.

A number of projects involving the logistics supply chain, such as the J&T Express East China Headquarters, the Hongyuan Group International Aviation South Headquarters Base, and the Xintong Supply Chain Innovation Center, will drive the construction of Yiwu's modern and efficient logistics system, as well as support the city's economic development.

In the second quarter of this year, construction started on a total of 22 projects in Yiwu with over 50 million yuan in investment each and a combined 22.9 billion yuan in investment. Among them, five major industrial projects attracted 2.2 billion yuan in investment, nine basic infrastructure and livelihood-related projects attracted 8 billion yuan in investment, and eight modern services projects, including a cross-border e-commerce industrial park, attracted 12.7 billion yuan in investment.