(Yicai Global) Oct. 31 -- Nine key projects in Hengshui Hi-Tech Development Zone in Hebei province have begun construction, with total investments amounting to CNY16.2 billion (USD2.44 billion).

One of the projects, the Stem Cell and Regenerative Medicine Center, is being built in partnership with US research teams to develop a state-level demonstration base for the life science industry.

Six of the projects are industrial and the remaining three are livelihood service projects, all combining to cover five industries, new energy, new materials, health, advanced equipment manufacturing and modern services, state-run China News Service reported. Upon completion of the industrial projects, they should be bringing in CNY26 billion in annual revenue for their respective firms.

The livelihood projects include a power plant based on burning household garbage, with an investment of CNY495 million (USD74.7 million), a high-tech zone hospital with CNY2 billion invested, and a foreign trade service platform, also with an investment of CNY2 billion.

Thomas C. Sudhof, a German biochemist from Stanford University and 2013 Nobel Prize in Physiology award winner, will lead the team at regenerative medicine center, which will focus on research and development, forming industry standards and applications of stem cell technology.