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Agreements for 12 projects receiving 29.78 billion yuan ($4.43 billion) in investment were signed to be carried out in Zhuji, a county-level city of Shaoxing, East China's Zhejiang province, in a ceremony on Feb 1.

The projects focus on such fields as aerospace, new energy, biological medicine, artificial intelligence and high-end manufacturing.

Zhejiang Oswell is ready to place its headquarters for new energy vehicles' motor propulsion systems in the Zhuji Economic Development Zone, according to deals signed at the ceremony.

The headquarters drew 5.5 billion yuan in investment and covers an area of 23 hectares. It is expected to become a center for the production, research and sale of new energy vehicles.

Once the headquarters is built, it is expected to generate 4.2 billion yuan in output.

Officials from the Zhuji commerce bureau promised to take measures to optimize its business environment.