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Agreements for 11 projects worth 14.25 billion yuan ($2.04 billion) were signed to be carried out in the Shengzhou Economic Development Zone in Shengzhou, a county-level city under the administration of Shaoxing, East China's Zhejiang province, during a signing ceremony on Dec 25.

The projects are centered on new energy, biological medicine and new materials.

Among them, a new energy vehicle assembly center capable of manufacturing 4.8 million new energy vehicles per year is expected to draw 10 billion yuan in investment.

The center is expected to generate 10 billion yuan in annual revenue. It will strengthen the industrial chains of new energy vehicles in Shengzhou, local officials said.

The Shengzhou Economic Development Zone, which was founded in 1992, is now home to 2,386 industrial firms, 220 of which are high-tech firms and seven of which are listed.

An agreement is signed to build a new energy car assembly center in the Shengzhou Economic Development Zone in Shengzhou, a county-level city under the administration of Shaoxing, East China's Zhejiang province, during a signing ceremony on Dec 25. [Photo/Zhejiang Daily]