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US$3.5b invested
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Agreements for 25 foreign and 10 domestic investment projects were signed at a technology and trade fair in Hangzhou over the weekend, totaling US$3.5 billion.
The 25 foreign investment projects involve a total of US$1.56 billion while 10 domestic projects have a combined investment of 12.2 billion yuan (US$1.94 billion), according to the organizer of the fair, which was part of the West Lake International Expo.
COFCO (China National Cereals, Oils and Foodstuffs Corporation) signed an agreement with the Hangzhou government to invest 12 billion yuan over the next five years.
US biomedicine company Amgen signed an agreement with Zhejiang Beta Pharma Co Ltd to form a joint venture to sell Amgen’s anti-cancer drug, Vectibix, in the Chinese market.
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