A total of 48 investment projects valued at 58.8 billion yuan ($8.77 billion) were signed into effect in Fenghua district of Ningbo, East China's Zhejiang province on Nov 17, local media reported.

Two projects saw investment exceeding 10 billion yuan while six exceeded one billion yuan.

The projects primarily focus on headquarters economy, manufacturing, agriculture, culture and tourism.

The signing ceremony was held on the sidelines of a conference to mark the 3rd anniversary of the establishment of Fenghua district.

The conference attracted a number of business leaders, including Ding Lei, CEO of Netease.

A total of 48 investment projects valued at 58.8 billion yuan ($ 8.77 billion) are signed into effect in Fenghua district of Ningbo, East China's Zhejiang province on Nov 17. [Photo/cnnb.com.cn]