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Jiaxing in East China's Zhejiang province inks three investment deals worth $300 million on the first day of the fifth China International Import Expo in Shanghai. [Photo/WeChat account: jxfabu]

Jiaxing in East China's Zhejiang province secured three investment deals worth $300 million on the first day of the fifth China International Import Expo in Shanghai.

The city ranked third in the province in terms of its deals' combined value, according to official statistics from the Jixing Municipal Bureau of Commerce.

One of them is the 1-billion-yuan fund ($153.85 million) established by InnoVen Capital through the Qualified Foreign Limited Partner (QFLP), a pilot program offering easier access to China's fund markets, in Jiashan county.

InnoVen Capital is a leading venture debt investor in Asia focusing on venture debt financing for early-stage and growth-stage innovative enterprises.

Another project is a new material factory funded by Allnex in Pinghu, a county-level city in Jiaxing, which is designed to have an annual capacity of 100,000 tons of powder coating resins and photocuring monomer resins.

Allnex, a global leader in industrial coating resins, now serves more than 100 customers across the world, with annual sales of more than 2.1 billion euros ($2.1 billion).

The third will be an intelligent electric bicycle and UPS power supply project in Tongxiang, another county-level city in Jiaxing.

Jiaxing has sent a delegation of 1,416 companies and 6,209 professional visitors to the fifth CIIE, with the number of registered companies and visitors ranking third and second in Zhejiang, respectively.

The expo's first day saw the delegation clinch intended deals worth $11.47 million.