Agreements for 25 projects, which will receive 11.26 billion yuan ($1.67 billion) in investment, were signed in the Dongying Economic and Technological Development Zone on Oct 12.

The projects mainly involve new materials, high-end equipment, aerospace, information technology, biomedicine, modern finance, and more.

The Dongying Economic and Technological Development Zone signs agreements for 25 projects with 11.26 billion yuan ($1.67 billion) in investment on Oct 12. [Photo/dzwww.com]

"These projects, which have high scientific and technological content and strong development potential, will inject strong momentum into the transformation of old growth drivers into new ones and the upgrading of industries, and help fuel local high-quality development," said one local official.

The Dongying Economic and Technological Development Zone is the first state-level development zone in the Yellow River Delta. It boasts an advantageous geographical location, rich natural resources, solid industrial foundation, and beautiful and livable environment.

It is home to 85 industrial enterprises above designated size, 111 enterprises with over 100 million yuan in annual output, and 90 high-tech enterprises.

In recent years, the development zone has been ramping up efforts to improve its business environment and boost its industrial transformation and upgrading. It is now focusing on developing three leading industries: new materials, transportation equipment manufacturing, and aerospace, while also accelerating the development of its modern service industries.