The signing ceremony for important foreign investments was held at the Nanyuan Hotel on June 9. A total of 22 projects were signed, involving a total investment of 1.16 billion US dollars and a contractual investment of 470 million US dollars. The investments are in the fields of petrochemicals, electronics, environmental protection, home appliances, auto-parts, tourism development, and shopping malls. The investors are mostly from Korea, Sweden, Japan and the US. Among the 22 projects, the largest one is from IKEA of Sweden. It is a shopping mall project costing about 250 million Euros, which is to be settled in Yinzhou District of Ningbo.