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

Industrial investment in Huzhou, East China's Zhejiang province amounted to 38.25 billion yuan ($5.88 billion) from January to August, up 34.2 percent year-on-year, official data show.

Among them, investment in the manufacturing sector rose by 38.1 percent to 36.91 billion yuan over the eight-month period.

In the first eight months of this year, 346 industrial projects each worth over 100 million yuan broke ground in the city, while 343 projects each with an investment of more than 100 million yuan finished construction.

The headquarters of Amer Group in East China is currently under construction in the Nanxun Economic Development Zone in Huzhou.

With a total investment of 11.8 billion yuan, the project will focus on 5G new materials and have an annual output value of no less than 10 billion yuan after completion.

As of the end of July, the loan balance of the manufacturing industry in Huzhou was 139.543 billion yuan, an increase of 21.661 billion yuan or 18.37 percent compared with the beginning of the year.

The average interest rate of the city's manufacturing loans was 5.20 percent, 0.17 percentage points lower than the beginning of the year. 

An official from the Huzhou municipal bureau of banking and insurance supervision said that more financial support will be provided to support the real economy and optimize the business climate.