Local media has reported that Zhoushan in Zhejiang province signed agreements to launch 32 projects with a combined investment of 95.56 billion yuan ($13.43 billion) on Jan 3.

There are three projects among the 32 with an investment of over 10 billion yuan each, three with an investment of over 5 billion yuan each, and sixteen with an investment of over 1 billion yuan each.

The projects span various industries, including 10 in the petrochemical and new materials industry with a total investment of 34.2 billion yuan, eight in the clean energy and equipment industry with a total investment of 50.5 billion yuan, seven in the modern marine tourism industry with a total investment of 5.41 billion yuan, five in the marine equipment manufacturing industry with a total investment of 3.85 billion yuan, and two in the marine electronic information industry with a total investment of 1.6 billion yuan.

The projects taken together are expected to infuse new vitality into the high-quality development of the city’s marine economy, noted a local official.