The 2020 Shenzhen Global Investment Promotion Conference was held in Shenzhen, with eight parallel sessions in eight other cities around the world, on Dec. 8.

Contracts for a total of 242 projects were signed involving investment of more than 780 billion yuan ($119 billion).

Among them were 40 big projects in information technology, high-end manufacturing, new materials, biomedicine, finance, commercial logistics and digital economy.

The Shenzhen municipal government hopes these projects can inject new vitality to the city’s development.

Meanwhile, Luohu district signed contracts for 14 projects, with overall planned investment of over 82 billion yuan.

“As long as the projects are what Luohu needs, the district can provide land, space and policy,” said Luohu Party chief Luo Yude.

In its investment promotion conference in October, Luohu signed 12 contracts with investors. The projected annual value of production in these projects will be about 122.5 billion yuan.

Luohu’s gross domestic product has increased from 120.2 billion yuan in 2011 to 230 billion yuan in 2019.

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