A factory in Huzhou, East China's Zhejiang province. [Photo/hz66.com]

Industrial investment in Huzhou, East China's Zhejiang province amounted to 33.795 billion yuan ($5.19 billion) from January to July, up 37.1 percent year-on-year.

The growth rate was nearly 8 percent higher than the provincial average over the same period and ranked second in Zhejiang.

Over the seven-month period, a total of 317 projects, each with investment exceeding 100 million yuan, broke ground in Huzhou, while 289 projects finished construction.

One such example that started construction is the factory invested in by Zhejiang Jiuli Hi-tech Metals Co Ltd, a subsidiary of Jiuli Group.

With a total investment of 326 million yuan, the factory will have an annual capacity of 15,000 metric tons of pipes used for oil and gas transportation. After being put into use, it is expected to generate about 400 million yuan in sales revenue.

Currently, half of the factory's construction has been completed.

Founded in 1987, Huzhou-based Jiuli Group is a leading manufacturer of industrial equipment in China.

The increased investment has also bolstered the continuous structural optimization of the city's manufacturing sector.

From January to July, the added value of the city's strategic emerging industries, high-tech industries, and equipment manufacturing industries increased by 28.4 percent, 22.4 percent and 27.4 percent respectively.

A head official from the Huzhou municipal bureau of economy and information technology said that they will leverage the 50-billion-yuan green industry fund set by the government to bring in more investment to the city.