Deals for two major projects were signed on Nov 15 in the Zhoushan area of the China (Zhejiang) Pilot Free Trade Zone in East China's Zhejiang province. 

One of the projects is related to high performance resins. Funded by Zhejiang Petroleum & Chemical Co Ltd, this facility, which will cost 19.2 billion yuan ($2.68 billion) to build, will supply materials to the new energy industry. 

The other project is a 250-million-yuan facility focused on the research and development of tilting rotor unmanned aerial vehicles (UAV). The facility, which will be capable of UAV assembly and the production of aviation parts and intelligent equipment, is expected to generate an annual output worth 300 million yuan. 

The two projects will play a significant role in bolstering the area's high-quality development, said a local official.