Agreements for 18 major industrial projects were signed in the Nantong Economic and Technological Development Area (NETDA) in East China's Jiangsu province on March 30. 

The projects, which are related to fields like advanced manufacturing, high-end services, and technological innovation, will inject vitality into the area's economic development. 

Boasting a combined investment of 21.84 billion yuan ($3.18 billion), the projects are expected to generate an annual combined output of 29.5 billion yuan and 760 million yuan in tax revenue. 

The area also inked deals for 32 technological innovation projects and five high-end services projects at the signing ceremony, while its actual use of foreign capital was $500 million in the first quarter of this year. 

Bao Delin, director of the NETDA administrative committee, said at the ceremony that authorities will sustain efforts to build a well-appointed industrial park that serves as a platform for high-caliber talents to launch high-quality projects. 

He added that authorities will also implement a series of measures, including streamlining approval procedures and rolling out favorable policies, to optimize the business environment. 

More than 30 entrepreneurs from cities like Shanghai and Shenzhen attended the event.