Zhejiang, one of the most developed provinces in east China, is planning to build the world's longest bridge, a 36 kilometer structure to cross the Hangzhou Bay.
Once the bridge is built, the distance between Ningbo, a port city and major industrial base in Zhejiang, and Shanghai, the country's largest economic powerhouse, will be cut by 120 kilometers.
The project has been approved by the State Planning Commission and is now in its preparation stage.
Ningbo City will contribute 90 percent of the funds, while Jiaxing City makes up the rest, according to a provincial government decision.
Private investors are also welcome. So far, five private companies have shown interest in the project.
The bay area, part of the Yangtze River Delta, is the most developed part of the province. In the first six months of this year, the area introduced 4.1 billion US dollars worth of foreign capital, accounting for 80 percent of the province's total.