Business representatives sign project deals at the opening ceremony for the 2021 China Haimen Trade and Investment Fair in Haimen district, Nantong on April 22. [Photo/ntfabu.com]

A total of 36 project deals receiving a combined investment of more than 100 billion yuan ($15.40 billion) were signed at the 2021 China Haimen Trade and Investment Fair that kicked off in Haimen district, Nantong, Jiangsu province on April 22.

The projects involved industries like biological medicine, new materials, and smart manufacturing, which are corresponding to the eight industrial chains that Haimen is developing.

Founded in 1996, the fair has become an iconic trade platform for industrial and regional cooperation, professional discussions, as well as talent exchanges, after 26 years of development, officials said.

This year marks the opening year of the 14th Five-Year Plan period (2021-25) and the first year after Haimen transformed from a county-level city to a district of Nantong.

The district has witnessed a 20.2 percent growth in regional gross domestic product in the first quarter of this year, the highest in Nantong and one percentage point higher than the provincial average.

With its solid industrial foundation, Haimen has developed three industrial clusters of high-end home textiles, modern construction, and advanced equipment manufacturing, each valued more than 100 billion yuan.

More than 70 percent of companies in the district that each generate over 1 billion yuan in taxable sales are involved in the three industries.

This year, Haimen also plans to develop eight advantageous industrial chains of modern home textiles, environmentally friendly construction, high-tech marine engineering and shipbuilding, industrial robots, life sciences and healthcare, digital communications, fine steel, as well as the circular economy, which are expected to generate a combined 200 billion yuan in taxable sales by 2025.