(Yicai Global) March 31 -- Chinese and foreign firms inked agreements on 152 major industrial projects in Shanghai today, worth a total of CNY441.8 billion (USD62.3 billion). The projects cover a wide range of fields, including integrated circuits, artificial intelligence, biomedicine and aerospace, according to the city government.
Overseas companies such as Robert Bosch Venture Capital, Mitsubishi's Shanghai metals division, and Sam's Club invested USD16 billion.
Several Chinese firms, including Tencent Holdings and SenseTime, also signed deals. Tencent will work with partners to build and operate an AI supercomputing center for the Yangtze River Delta region in suburban Shanghai. SenseTime will build a new generation of AI computing and enabling platform.
Shanghai also launched 60 square kilometers of new space for industrial development, and unveiled 26 special industrial parks, each with an area of three to five square kilometers, at the promotional event. The parks will host projects in fifth-generation wireless telecoms, AI, biomedicine, aerospace, new materials, and intelligent manufacturing.
Editor: Peter Thomas