A total of 285 projects worth 131.9 billion yuan ($20.27 billion) started construction on Feb 26 in Tai'an, Shandong province, including 204 industrial projects and 81 projects related to infrastructure construction.

Among them, a new material project supported by Shandong Taipeng Group has an investment of 2 billion yuan. The project will introduce more than 600 sets of intelligent and automatic equipment. It mainly produces ultra-high temperature nonwoven filter materials, high-speed train interior composite materials and high temperature resistant film materials.

The project will play an important role for the city to build a new material industry cluster with a value of 100 billion yuan.