The 2018 Shaoxing Development Conference, a platform for exchanges and cooperation on the development of Shaoxing, takes place on June 3. [Photo/zjol.com.cn]

The 2018 Shaoxing Development Conference was held on June 2 and 3, with 16 projects worth 68.77 billion yuan ($10.71 billion) agreed.

The ventures will progress the development of Shaoxing and include sectors such as new materials, aviation, biological medicine, high-end equipment and electronic information. The introduction of these projects will boost the construction of a modern industrial system in Shaoxing.

Meanwhile, Shaoxing will collaborate with Peking University to build a research institute on optoelectronic information to give intellectual support to the city's high-tech industries, it announced at the plenary of the development conference on Sunday.

The research institute will focus on cutting-edge technology and work to facilitate the commercialization of academic findings. Moreover, it will help to introduce and cultivate talents in the research industry in Shaoxing.

At the plenary, professionals delivered keynote speeches from different perspectives, and shared their insights on the economic, cultural and social development of Shaoxing.

The two-day conference invited approximately 1,000 national and international professionals in industrial and commercial areas. Mai Weiguang, Party secretary of Shaoxing, said they want to unite all concerned parties to build a modern Shaoxing for the new era.

Agreements on 16 quality projects are signed at the 2018 Shaoxing Development Conference on June 3. [Photo/zjol.com.cn]

Attendees pose for photos before the plenary of the 2018 Shaoxing Development Conference in Shaoxing, Zhejiang province on June 3. [Photo/zjol.com.cn]