On July 5, Zhangye of Gansu province signed a cumulative 31.02 billion yuan ($4.28 billion) worth of investment deals covering 62 projects with participants of the 29th China Lanzhou Investment and Trade Fair.

Zhangye of Gansu province sign contracts with companies at the 29th China Lanzhou Investment and Trade Fair on July 5. [Photo/chinadaily.com.cn]

Among the projects, 14 were signed on site, involving comprehensive energy and equipment manufacturing, agricultural and animal products, intensive processing and other fields.

Both the number of contracted projects and the amount of investment have reached new highs. There were 43 projects signed with an investment of more than 100 million yuan, accounting for 70 percent, including a project worth over 3 billion yuan and 10 projects of over 1 billion yuan.

Zhangye is a commercial hub along the ancient Silk Road, an important ecological barrier area and a geomorphologic landscape garden in Northwest China.

As it embarks on a new journey of modernization, Zhangye is developing itself into a national crop seed production base, an energy-rich base, a modern agricultural demonstration area, and a demonstration area for tourism and rural revitalization.