A total of 63 investment projects valued at 47.2 billion yuan ($7.26 billion) break ground in Taizhou in East China's Zhejiang province. [Photo/taizhou.com.cn]

A total of 63 investment projects valued at 47.2 billion yuan ($7.26 billion) broke ground in Taizhou in East China's Zhejiang province on Jan 4, according to local media reports.

The projects primarily involve advanced manufacturing, infrastructure, urban development and public services.

One of the most significant projects is the Linhai Smart Manufacturing Industrial Park funded by Beijing Liando Investment Group, a company specializing in industrial park operation and financial investment.

The company has already established a business presence in over 60 cities nationwide and runs more than 260 industrial parks that host 13,000 enterprises.

The industrial park invested by Liando in Taizhou's Linhai city will receive a total investment of about 2 billion yuan. The 700-million-yuan first phase will occupy 131.7 mu (8.78 hectares).

The facility will mainly house companies from sectors including smart health, high-end equipment and electronic information. It is expected to achieve an annual output value of more than 1 billion yuan and generate over 40 million yuan in tax revenue after it becomes operational.

Taizhou has emerged as a hotspot for investment in recent years. Official data shows that a total of 243 investment projects with a combined value of 45 billion yuan broke ground in the city in 2020.