Deals for projects in a new development area in Fuzhou and construction of the "Maritime Silk Road" were signed at the Cross-Straits Fair for Economy and Trade held from May 18 to 22 in the capital of Fujian province.

The expo has become an increasingly influential event for promoting investment between Taiwan and the Chinese mainland. It exhibits famous local products from Taiwan and offers a series of activities to boost cooperation in the creative industry, equipment manufacturing and tourism.

Business representatives sign agreements for a group of investment projects in Fuzhou during the cross-Straits fair. Lu Ting / China Daily

On opening day alone, a group of investment projects worth 100 billion yuan ($16 billion) were concluded, including 55 projects for the Fuzhou new area along with 30 from the United States, the United Kingdom, France and Germany as well as Taiwan, Hong Kong, Shanghai and Guangdong.

They cover an array of sectors including the latest information technology, new materials and energy, financial services, headquarters economy, e-commerce, modern logistics, cultural tourism and infrastructure.

"These projects will be a shot in the arm for the development of the Fuzhou new area and golden economic circle at the Minjiang River estuary," said local officials.

The new area covers 986 square kilometers and includes the districts of Mawei and Cangshan as well as Fuqing and Changle cities.

"The new area has wellestablished port and waterway facilities, a solid industrial foundation, profound cultural heritage and intact ecological environment, all of which make for strong development potential," officials said.

This year a total of 300 construction projects involving total investment of 765.5 billion yuan are planned at the area. They cover transportation, energy, agriculture, water conservancy and trade.

A leader in industrial cluster development, reform and opening-up in the Western Taiwan Straits Economic Zone, the area aims to develop modern industries, infrastructure and ecology systems, according to its strategic vision.

Building major industrial parks, accelerating growth in the service industry and toplevel clean production by 2020 are also among the goals.

As well, local authorities plan to build a cross-Straits cooperation zone with international competitiveness by 2030.

Fuzhou also signed an agreement at the fair with the China Development Bank, the China-Africa Development Fund and a few companies to set up a Maritime Silk Road fund.

Plans call for the fund to grow to 10 billion yuan and help more Fuzhou companies make inroads in foreign markets, local officials said.