A total of 12 foreign companies have decided to set up operations in Zhoushan, East China's Zhejiang province, in the first quarter of this year, local media reported on April 20.

The projects being carried out by these companies have a combined valued of $145 million, with actual use of foreign capital totaling 79.15 million yuan in the first three months of this year.

During the same period, Zhejiang received another 539 foreign-invested companies, and its actual use of foreign capital totaled 27.1 billion yuan, a yearly increase of 0.3 percent.

Twenty-two companies worth more than $100 million were introduced through international industrial cooperation parks with a total investment of $10.8 billion. The companies are mainly involved in smart vehicles, commercial services, new energy, new materials, and information technology.

In addition, Fortune Global 500 companies continued to hold a positive view of the economic development prospects and market growth potential of Zhejiang. In the Jan-March period, four Fortune Global 500 companies set up operations in the province with a total investment of $2.28 billion.

A total of 12 foreign companies set up operations in Zhoushan, East China's Zhejiang province, in the first quarter of this year. [Photo/WeChat account: zlzhoushan]