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Investment deals
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Contracts for 18 investment projects worth a combined 13.84 billion yuan (US$2.17 billion) were signed at the 18th Hangzhou Domestic Economic Cooperation Forum. Among them, 13.23 billion yuan was attracted from other cities and provinces.
The projects are centered on the information technology sector and commercial complexes. The IT sector attracted 66 percent of the total investment with the bulk of that going to Internet finance, mobile Internet, e-commerce and integrated circuit projects.
The IT sector has become a pillar industry in Hangzhou. The government plans to build an “Internet plus innovation center” to create a cluster effect.
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