Daishan county in Zhoushan, East China's Zhejiang province recently signed projects with three high-end companies at an investment promotion conference, bringing in 2 billion yuan ($285 million) in capital.

The conference was held by the city's municipal government in a bid to help develop local industries.

The first project will include the construction of an industrial park and is being funded by an agricultural enterprise in a transnational corporation – Chia Tai Group, also known as Charon Pokphand Group.

It will engage in the development of industrial chains in agricultural industries, the integration of agriculture and tourism, and scientific research, among other things.

The second project is a research and manufacturing center which will focus on the development and production of high-performance catalyzers, environmentally friendly auxiliaries and other new materials.

The third project is a luxury cruise repair center funded by the Shenzhen branch of China Merchants Group, a renowned state-owned group based in Hong Kong.

Yao Rulin, deputy general manager of the Shenzhen branch, said that the company is optimistic about the business environment and geographical advantages in Daishan.

Yao added that the repair center will be an important platform for the company in developing leading new materials.