A total of 44 projects in Zaozhuang, Shandong province, worth 57.8 billion yuan ($8.27 billion), were signed on Feb 27 during an online ceremony.

An online signing ceremony is held on Feb 27 in Zaozhuang, Shandong province. [Photo/dzwww.com]

The newly-signed projects involve cultural creativity, high-end equipment, healthcare, new energy, new-generation information technology and more.

Local authorities said that the projects will inject new vitality into the city's development and contribute to its efforts to replace old growth drivers with new ones.

A cultural and creative industrial park will receive a total of 3 billion yuan in investment from Amer International Group based in Shenzhen, Guangdong province. The project will focus on the production, sale, import, and export of cultural products. It will also build a cultural product export base which covers a complete industrial chain, from design to production to export.

Zhongyuan International Trade Group, based in Zhengzhou, Henan province, will build a trade headquarters in Zaozhuang at a cost of 5 billion yuan. The headquarters, with a planned area of 560 mu (about 37.33 hectares), will integrate agricultural product trading with Internet finance in a bid to expand sales channels.

Li Feng, Zaozhuang municipal Party secretary, said that the city has been ramping up efforts to promote economic and social development while continuing to fight against the novel coronavirus pneumonia.

Li said that a friend in need is a friend indeed, and expressed his thanks to all investors and businessmen who choose to invest in Zaozhuang and contribute to local development. 

Li added that the internet is a great tool in promoting business and cooperation during these trying times.