A package of 29 industrial investment projects worth more than 400 billion yuan ($61.56 billion) was announced on Thursday in Dongguan, Guangdong province, according to the local government authority.

Agreements for the projects, involving high-end manufacturing and strategic emerging industries, as well as scientific and technological innovation and urban renovation cooperation, were signed during an industrial investment promotional event.

"We will take advantage of construction in the Guangdong-Hong Kong- Macao Greater Bay Area and Guangzhou-Shenzhen Science and Technology Innovation Corridor to create a high-quality business and policy environment to support industrial development," said Liang Weidong, Party chief of Dongguan.

Dongguan, a traditional manufacturing and trade hub in the Pearl River Delta, is in the heart of the Guangzhou-Shenzhen Science and Technology Innovation Corridor, a plan approved by the Guangdong provincial government to build a "Chinese Silicon Valley" last year.

Local authorities have vowed to develop the corridor, which stretches more than 180 kilometers and covers an area of 11,836 square km, into a world-class high-tech industry innovation center by 2050.