A batch of 52 selected projects, involving nearly 55 billion yuan ($7.75 billion) in investment, are attracting businesses to a historical development opportunity in Zhongshan, an emerging manufacturing and innovation hub in Guangdong province, said top city officials.

"The next five years are a critical development window for Zhongshan as the city continues to rise fast, and we are offering the opportunity to share the benefits and grow with Zhongshan," said Lai Zehua, Party secretary of Zhongshan.

He made the remarks at the opening ceremony of the 2020 Zhongshan Trade and Investment Fair & Top Talent Networking, one of the city's most significant events, on Saturday.

Affected by the ongoing COVID-19 pandemic, the organizing committee staged a "cloud signing ceremony" using big data and a cloud platform to connect the physical venue online via a video link, in a bid to avoid crowds.

The 52 projects proposed are expected to generate more than 100 billion yuan in industrial output annually and contribute 4.3 billion yuan in tax revenue for the city, according to the organizing committee. All the projects are preliminarily ready and can be put under construction quickly once agreements are signed.

Nineteen of these projects, which will attract more than 1 billion yuan in investment each, are ranged in the fields of financial services, smart manufacturing, biomedicine, inspection and testing, headquarters economy and supply chain upgrading.

A total of 41 projects were signed at the opening ceremony.

Officials and professionals attend the 2020 Zhongshan Trade and Investment Fair & Top Talent Networking in Zhongshan, Guangdong province, on Saturday. The city, a manufacturing and innovation hub, offers incentives to attract professionals. [Photo by Xia Shengquan/China Daily]

Lai said the government will provide incentive policies, a favorable environment and good services to create a win-win situation with entrepreneurs, investors and professionals.

He said Zhongshan's opportunities lie in the two great strategic developments in the region, including the Guangdong-Hong Kong-Macao Greater Bay Area and Shenzhen's demonstration pilot zone of socialism with Chinese characteristics.

Located in the center of the Greater Bay Area and surrounded by three pilot free trade zones in Shenzhen, Guangzhou and Zhuhai, Zhongshan enjoys the most favorable circumstances to develop its economy faster than ever, said Lai.

By the end of 2024, the city is projected to be prominent in four industries, including the homewares and appliances industry with an annual industrial output of 500 billion yuan, the electronic and information industry with an annual industrial output of 300 billion yuan, the equipment manufacturing industry with an annual industrial output of 200 billion yuan, and the healthcare and medicine industry with an annual industrial output of 100 billion yuan, according to the city's plans.

The number of high-tech enterprises in Zhongshan will surpass 4,000 by the end of 2024 and available industrial land will exceed 45 square kilometers.

This year the city will further optimize its environment, so that companies can get the best support from the government while investors can enjoy the most convenience, said Lai.

For example, the local government has improved its online and mobile services so that companies can deal with civil affairs issues as conveniently as shopping online, he noted.

Traffic is another vital input of the government.

"We plan to inject 150 billion yuan to improve the traffic network in the next five years, and aim to build the city into a key traffic hub in the western Greater Bay Area," said Mayor Wei Weihan.

It will take just 20 minutes to travel from Zhongshan to Qianhai area of Shenzhen via a new bridge that will be completed in 2024, and take 30 minutes from Zhongshan to the downtown of Guangzhou via a new subway.

According to the organizing committee, the fair is held from March 28 to mid-May.