South China’s technological powerhouse Shenzhen has signed 128 deals worth more than 560 billion yuan (around 80 billion U.S. dollars) with global enterprises.
Wang Youpeng, director of Shenzhen’s planning and natural resources bureau said that the tech giant signed the deals at the Shenzhen Global Investment Promotion Conference as it tries to attract global investors.
The city authorities have already allocated 30 square kilometers of industrial land, which is distributed in 36 zones, for global investment, Wang said.
Wang added that the zones were designed with various facilities to function as headquarters base and to provide advanced manufacturing, scientific research, and education, as well as cultural tourism services.
Wang Weizhong, Secretary of the Shenzhen Municipal Committee of the Communist Party of China said that Shenzhen is striving to create a stable, fair, and transparent business environment for global companies.
He added that it also offered land for projects that were consistent with the city’s industrial direction and met its need for high-quality development.
Shenzhen is a modern metropolis that links Hong Kong to China’s mainland.
It is known for its shopping destinations, including Luohu Commercial City, a massive mall with a vast array of wares, from tailors’ custom clothing to faux designer bags.
The city also features contemporary buildings, such as the 600m-tall skyscraper Ping An International Finance Centre, and a number of amusement parks.
Shenzhen is home to a bevy of Chinese startups and tech heavyweights including Huawei and Tencent.
Its Gross Domestic Product rose by about 7.5 per cent year-on-year to surpass 2.4 trillion yuan in 2018.