A group signing ceremony for a slew of major projects in Lishui city is held on June 22. [Photo/WeChat account: ls-mnews]

A group signing ceremony for a slew of projects to be undertaken by 10 State-owned enterprises in Lishui – located in East China's Zhejiang province – was held in the city on June 22, local media reported.

The total investment of the projects is 75.2 billion yuan ($11.6 billion), including six projects costing over 10 billion yuan each.

The SOEs include the State Grid Xinyuan Company Ltd, the State Power Investment Cooperation Limited, the State Power Investment Cooperation Zhejiang Branch and the China Three Gorges Corporation.

The projects are set to significantly expand the activities of the SOEs in the city and their involvement in its digital economy, e-sports industry, high-end hotel sector, as well as in the health and vacation industry, among other commercial areas.