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Thirty-six digital economy companies above designated size in the Pinghu Economic Development Zone generate 16.9 billion yuan ($2.62 billion) in output in 2020. [Photo/cnjxol.com]

Thirty-six digital economy companies above designated size in the Pinghu Economic Development Zone in Jiaxing, East China's Zhejiang province, generated 16.9 billion yuan ($2.62 billion) in output last year, local media reported.

These digital economy companies accounted for 15 percent of all industrial companies above designated size in the zone and were responsible for 36 percent of all industrial output.

Developing the digital economy is a priority for Pinghu county-level city, and as one of the major players in the city's digital economy, the Pinghu Economic Development Zone has been focusing on six major digital economic projects in recent years.

The projects include a chip production line, a research institute, a national laboratory, a digital economy company worth more than 5 billion yuan, a 10 billion-yuan industrial chain, and an investment project worth 10 billion yuan.

The Pinghu Economic Development Zone recently secured its first six projects of the year, which have received a total of 1.08 billion yuan in investment, including 500 million yuan in investment from Lewei Semiconductor Technology (Jiaxing) Co.

Lewei will build a factory in the zone, which is expected to begin operating in the first half of this year and generate 1 billion yuan in output per year.

The development of the zone's digital economy is also dependent on incubation platforms. The Pinghu Economic Development Zone has built an international innovation center in Shanghai to bring in more high-quality digital economy companies, high-profile professionals, and headquarters economy projects.

The development zone also plans to build more such platforms this year, including an auto research and development center.