Seven companies decide to set up operations in Jiashan New Industrial City in Jiashan, a county in Jiaxing, East China's Zhejiang province at a signing ceremony held in the city on May 28. [Photo provided to chinadaily.com.cn]

Seven companies decided to set up operations in Jiashan New Industrial City in Jiashan, a county in Jiaxing, East China's Zhejiang province at a signing ceremony held in the city on May 28.

The seven companies focus on life health, intelligent connected vehicles (ICVs), integrated circuits.

A research project funded by Zhejiang Baifeng Jiehe Biotechnology Co Ltd focuses the research of probiotics in place of antibiotics and the production of probiotics. The project will cost 200 million yuan ($28.06 million) and is expected to have an annual output value of 350 million yuan.

Gufu Technology (Shanghai) Co Ltd, which is dedicated to developing and producing high-performance hydrogen fuel cell systems, plans to invest 200 million yuan to establish advanced production lines for such systems in the industrial city with an expected annual output value of 500 million yuan.

In recent years, relying on Jiashan's role as a pilot area for integrated ecological development in the Yangtze River Delta (YRD) region, Jiashan New Industrial City has focused on developing industrial clusters for life health, ICVs, and business services.

As of 2019, the Jiashan New Industrial City has attracted 250 companies with total revenue of 35 billion yuan and attracted 52 high profile professionals.

Construction on 34 projects in the industrial city also began on the same day.