Harbin New Zone in China’s northernmost Heilongjiang province unveiled new investments of more than 60 billion yuan ($8.53 billion) funding a swag of new projects, at an industrial policies release conference on Nov 29.

The investments involve 37 projects in the fields of new materials, new-generation information technology, intelligent equipment manufacturing, modern service and new energy.

To date, Harbin New Zone has introduced a total of 101 projects this year. Officials said that for the first time, the total investment in the zone exceeded 200 billion yuan in a year.

Officials said the signed projects, with good development prospects, are  in line with the overall development goals and industrial planning for Harbin New Area.

At the conference, the Harbin government released a total of 30 preferential policies related to the advanced manufacturing industry, the commercialization of scientific research achievements, science and technology innovation and recruitment, and others.

According to the policies, the highest reward fund for an enterprise or a project could reach 20 million yuan.

Officials said the policies aim to improve Harbin New Zone’s business environment and help resident companies cut their costs.