A total of nine key funding deals worth 26.5 billion yuan ($3.85 billion) are signed during the second Wuxi Taihu Fund Investment and Cooperation Summit on Dec 5. [Photo/wx.sina.com.cn]

A total of nine key industrial investment funding deals, worth a total of 26.5 billion yuan ($3.85 billion), were signed during the second Wuxi Taihu Fund Investment and Cooperation Summit on Dec 5.

The nine funds will support the development of emerging industries and high-tech industries, including the internet of things. Twenty-four projects focusing on integrated circuits, biological medicine and equipment manufacturing received a total investment of 384 million yuan.

Wuxi Taihu Fund, a government equity investment fund established in 2016, has invested 1.85 billion yuan in promoting the development and transformation of the real economy.

Wuxi Industry Investment Alliance is set up to strengthen the cooperation of Wuxi Taihu Fund and industries during the summit. [Photo/wx.sina.com.cn]

Huang Qin, acting mayor of Wuxi, said that the government will continue to optimize the operation of the investment fund, promote the transformation of traditional industries and support the development of emerging industries.

In order to strengthen the cooperation between Wuxi Taihu Fund and industries, the Wuxi Industry Investment Alliance was also set up during the summit.