Shaoxing City, located in Zhejiang Province, aims to exploit Shanghai's well-developed business climate and network to attract investment into 45 key industrial projects.
The total investment in the projects, which range from infrastructure, textile, machinery, electronics, light industry, pharmaceutical & chemical sectors and tourism, is estimated at 15 billion yuan (US$1.8 billion), the Shaoxing government said during an investment promotion it held in Shanghai recently.
More than 400 companies, including 108 foreign-invested  enterprises, such as Germany-based Metro Cash & Carry Co Ltd, Siemens and South Korea-based Samsung, participated in the conference.
 "We promoted our city during the conference to attract more companies to invest there, and also to enhance our current discussions over some projects," said Sheng Qiuping, general director of the Shaoxing Municipal Investment Promotion Authority.
"We want to cooperate with the Shanghai government in infrastructure construction, such as the Shaozhu Expressway and Caoejiang River Bridge." 
Shaoxing, one of the 15 cities of the Yangtze River Delta with a population of about 710,000, has invested about US$1.29 billion to build 12 major economic development zones.
By the end of last year, the city has approved the formation of 3,155 overseas invested enterprises, with total investment of US$15.8 billion.
 The value of imports and exports through the city reached US$5.96 billion last year.