Eight commercial cryptography projects were also signed with an investment totaling about 1 billion yuan. Other projects that were signed focus on modern services, software development and clean energy.

Guangzhou Development District aims to have its fixed-asset investment exceed 1 trillion yuan in the next five years, and in order to do so, is enhancing cooperation with the Guangdong branch of China Development Bank.

The district's administrative committee and CDB signed a cooperation agreement to financially support the technological innovation and high-quality development of advanced manufacturing at the event. A total of 3.7 billion yuan in loans was agreed.

The agreement will provide financial support worth more than 100 billion yuan to 14 key parks and projects in the district.

Yan Qingshan, vice-president of the bank branch, said: "Guangzhou Development District is an important functional area where the bank can support Guangzhou's development."

He said he hopes the branch will take the opportunity to offer all-around services for the construction of major infrastructure, parks and also scientific, technological and industrial innovation platforms in the district.

A research project is under construction in Guangzhou Development District. LI JIANFENG/FOR CHINA DAILY

The event also saw projects launched by national institutes perform their groundbreaking ceremonies and start their construction, including a materials research institute that was jointly set up by the district's administrative committee and the Changchun Institute of Applied Chemistry at CAS.

It aims to develop an advanced tire R&D and production platform focusing on aviation tire dynamics and a platform for the R&D of semiconductor chip materials.

Other projects that got underway include several in the key economic belt around the district's Jiulong Lake. It is aimed for the belt to become an international office environment attracting creative professionals and unicorn companies－startups valued at more than $1 billion.

Its international business center will boast advanced facilities and features commercial, residential, retail and leisure areas.

Over the past year, the China-Singapore Guangzhou Knowledge City, which is located in the development district, saw 91 projects start construction and 75 projects completed and put into trial operation.

Zhou Yawei, director-general of Guangzhou Development District's administrative committee, said that since the approval of its 2020-35 overall development plan, the knowledge city has made substantial progress in development.

The knowledge city will further be enhanced and develop into a globally influential knowledge center committed to the Belt and Road Initiative and the Guangdong-Hong Kong-Macao Greater Bay Area, Zhou said.