At the Quanzhou private economy development conference held on Feb 18, agreements on 48 major projects from private enterprises were signed on-site, amassing a total investment of 143.25 billion yuan ($19.9 billion). 

These projects span across various sectors, including new energy and new materials, electronic information, financial and industrial funds, biomedicine, and cultural tourism economy.

Among the 48 signed projects, 30 boast a total investment exceeding 20 billion yuan, with nine surpassing the 50 billion yuan mark. Two projects have even secured investment exceeding 10 billion yuan.

The financial and industrial fund projects have emerged as standouts among the projects. Noteworthy among these is the Nanyi national high-tech zone fund cluster project, with a total investment of 20 billion yuan. It is aimed at concentrating resources to establish a provincial fund cluster. This initiative will reinforce policy support, enhance supporting facilities, and attract and nurture venture capital funds, private equity funds, and other funds.

Another significant project is the Qilu Qianhai Venture Capital Fund, with a total investment of 5 billion yuan. It focuses on future investments in emerging industries, such as intelligent manufacturing, marine economy, and industrial Internet.

Moving forward, Quanzhou plans to drive green manufacturing and intelligent upgrading across all industries and the entire industrial chain. The city aims to guide the integration of new processes, technologies, and materials into traditional industries, with a focus on generating more robust investment projects at multiple levels.

The signed projects also encompass emerging industries, electronic information, culture and tourism, and more, further propelling the high-quality development of Quanzhou's economy.