A global investment promotion conference marking the 100th anniversary of the founding of Xiamen University was held in Xiamen, East China's Fujian province, on April 7, with nearly 1,000 alumni from around the world in attendance.

Agreements for 32 major industrial projects were inked, involving a combined investment of 43.9 billion yuan ($6.70 billion). Eleven of the projects are worth more than 1 billion yuan each and cover various fields such as semiconductors, bio-medicine, hotels, and modern logistics.

Zhao Haiying, an alumnus of XMU and chief executive of the China operation of SignalChem Lifesciences Co, a Canada-based clinical-stage company, decided to set up the company's China headquarters in Haicang district. It will include research and development platforms for protein engineering technology and targeted therapies.

Xiamen is stepping up efforts to become a national hub for life sciences, and bio-medicine projects are expected to inject new momentum into the city's development, officials said.

A program to encourage XMU's alumni to invest in Xiamen was also launched at the conference, with a series of preferential policies and upgraded services being introduced.

For example, alumni can apply for a maximum of 5 million yuan in credit-based loans to set up micro or small-sized enterprises. A maximum of 10 million yuan in subsidies will be offered to major breakthroughs or for the commercialization of research results in integrated circuits, bio-medicine, new materials, new-generation information technology, and high-end equipment.

As of April 5, 511 projects led by XMU's alumni had signed up for the program, involving a combined investment of 164.72 billion yuan.