A total of 18 investment projects valued at nearly 14 billion yuan ($2.02 billion) break ground in Ningbo, East China's Zhejiang province on Oct 17. [Photo/cnnb.com.cn]

A total of 18 investment projects valued at nearly 14 billion yuan ($2.02 billion) broke ground in Ningbo, East China's Zhejiang province on Oct 17. 

The projects primarily focus on fields such as high-end equipment manufacturing, headquarters economy, R&D, and financial trade. Twelve of them will be located in Lingfeng Modern Industrial Park and five will be located in the Ningbo area of China (Zhejiang) Pilot Free Trade Zone.

Lingfeng Modern Industrial Park is serving as a demonstration area for Ningbo's "246" campaign, which the city launched to construct industrial clusters with specific development goals. 

The "2" refers to the green petrochemical and automotive industries, which Ningbo aims to increase the output value to 1 trillion yuan , while the "4" refers to the four industries of high-end equipment, new materials, electronic information, software and emerging services, which Ningbo aims to increase the output value to 500 billion yuan.

The "6" refers to the six industries of key basic components, smart home appliances, fashion textiles and clothing, biomedicine, stationery and sports supplies, and products related to energy conservation and environmental protection. The local government aims to increase their output value to 100 billion yuan. 

Situated in Wu'ai village, Beilun district, Lingfeng Modern Industrial Park is designed to serve as an international innovation hub and a demonstration site for high-end industry and modern governance. Within 10 years, the park aims to attract more than 100 high-end enterprises to set up operations.