An artist's impression of the ZhouHen project in the Fuyang Economy and Technology Development Zone [Photo/hangzhou.zjol.com.cn]

Fuyang district in Hangzhou, capital of East China's Zhejiang province, hosted a ceremony to mark the commencement of 25 major industrial projects, on July 13.

These 25 projects drew investment of 23.26 billion yuan ($3.32 billion), including 12 high-tech projects and four projects in service sector.

The ZhonHen project, one of the high-tech projects inaugurated at the ceremony, is located in the Fuyang Economy and Technology Development Zone.

The project, which drew 450 million yuan in investment, aims to be a manufacturing base for intelligent equipment.

ZhouHen is a listed company headquartered in Hangzhou. The company's products, including the distribution boards, rectifier modules and power switches, occupy a significant market share.

Fuyang district hosts a ceremony to mark the commencement of 25 major industrial projects. [Photo/hangzhou.zjol.com.cn]

The project will focus on research and manufacturing of 5G launch towers, charge piles and 5G equipment.

"The project will play a leading role in the development of 5G technology in Fuyang," said Qiu Guoheng, an official at the management committee of the Fuyang Economy and Technology Development Zone.

According to a top official at the management committee of the Fuyang Economy and Technology Development Zone, the zone has set aside 113 hectares of industrial land.

He said that Fuyang is planning to set aside more than 80 hectares of land for industrial use every year.