(Yicai Global) Jan. 22 -- Chongqing Liangjiang Digital Economy Park opened yesterday with 34 projects, including Alibaba Group Holding Ltd., signing contracts and opening shop, and with overall investment topping CNY18 billion (USD3 billion), China News Service reported.
Alibaba has situated a high-level regional center in the park in Chongqing in Southwest China and signed a cooperation agreement with the larger Liangjiang New Area to promote collaboration in key digital industries and demonstration projects in new finance, new logistics and cross-border e-commerce.
The projects involve Big Data, artificial intelligence, environmental protection, Internet of Things and others. ZTE will set up a cloud platform to explore IoT applications. More than 100 enterprises in ZTE's Global IoT Alliance will be lured to the industrial estate to build an IoT industrial ecosystem, said Jiang Yi, ZTE Corp.'s deputy general manager. The report did not disclose Alibaba's investment amount.
The park is expected to house to over 3,000 companies by 2020, said an official with Liangjiang New Area. With a total planned expanse of 40.8 square kilometers, the complex focuses on developing data research, applications and services.