Projects worth $3 billion signed in Pingyao

Pingyao county in Shanxi province confirmed deals that will bring eight projects worth more than 20 billion yuan ($3 billion) to the region during a local investment promotion conference on Sept 20.

The projects cover a variety of industries, including traditional Chinese medicine (TCM), tourism, technology research and development, media and energy. Highlights include a TCM ingredients planting and pholtovoltaic solar power program involving Shanxi Industrial Equipment Installation Co and a high-tech innovation center built in collaboration with Zhejiang University.

Total investment in the eight projects amounted to 20.1 billion yuan, a 76 percent increase on the amount invested during a similar event in 2015. Four of the projects are worth more than one billion yuan.

Pingyao focused this year on attracting investment in projects that will foster local technological innovation and industrial transformation. The region is keen to promote emerging sectors such as new energy, environmental protection and high technology that will provide sustainable economic growth.

"A UNESCO world heritage site and a paradise for international photographers, Pingyao is becoming well-known around the world. Through its worldwide reputation, the county will find more partners to develop local modern agriculture, industry and tourism, as well as realize win-win cooperation," said Shi Yong, acting head of Pingyao.

Officials and business leaders take part in signing ceremony at an investment promotion conference in Pingyao county, Shanxi province on Sept 20. [Photo/pingyao.gov.cn]