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Jiaxing's investment in the manufacturing sector reached 67.52 billion yuan ($9.49 billion) from January to August, a year-on-year increase of 23.3 percent, according to the Jiaxing municipal economy and information technology bureau.

In the second half of 2020, the 5.5-billion-yuan lithium ion battery cell and module production base of Lanjun New Energy Technology Co Ltd started construction in Jiashan county.

The construction site of a production base of Lanjun New Energy Technology Co Ltd in Jiashan county, Jiaxing, Zhejiang province. [Photo/cnjxol.com]

The production base is expected to be completed in 2023. Its lithium-ion battery production capacity is expected to reach 32GWh, generating a total annual output value of about 8.36 billion yuan and paying about 514 million yuan in taxes.

By the end of August, 23.03 billion yuan had been invested in 83 major manufacturing projects worth over 1 billion yuan each in the provincial "548" plan, accounting for 106 percent of total planned investment in 2022.