A rendering of the second-phase construction project of Cainiao Network, a logistics arm of Aliabba group, in Yuhang district, Hangzhou [Photo/zj.zjol.com.cn]

Yuhang district in Hangzhou held a groundbreaking ceremony for 21 major projects in Qinajiang Economic Development Zone, on March 28. The ceremony also saw online signing of a number of new projects.

The 21 projects, including the long anticipated second-phase project of Cainiao Network, a logistics arm of Alibaba, received 28.2 billion yuan ($8.17 billion) in investment. 

In the first quarter of this year, the district attracted more than 100 projects online amid the epidemic outbreak, which are valued at more than 30 billion yuan. During the groundbreaking ceremony, 49 projects were selected for the agreement signing.

The 49 projects are involved in big data and cloud computing, quantum technology, block chain, high-end equipment manufacturing, integrated circuit, internet of things technology, biomedicine and new retailing.

A number of new investment projects are signed online during the groundbreaking ceremony for 21 major projects in Qinajiang Economic Development Zone, Yuhang district, Hangzhou, on March 28. [Photo/zj.zjol.com.cn]