A contract-signing ceremony was held on June 16 in Liangjiang New Area, in Southwest China's Chongqing municipality, and more than 30 leading and exemplary technological innovation programs agreed to invest in the new area. The total investment amounts to 92.5 billion yuan ($13.88 billion).

The programs cover areas such as intelligent manufacturing, electronic information, R&D platforms, the digital economy and industrial internet, and focus on cutting-edge industrial fields, such as AI and blockchain.

A keynote speech was delivered by Luo Lin, deputy secretary of the Chongqing Liangjiang New Area Party Work Committee and director of the Chongqing Liangjiang New Area Administrative Committee. On behalf of the new area's government, he pledged high-quality, efficient and convenient services to assist with the construction of the newly-signed programs.

Online exchanges were carried out during the ceremony, in which Duan Chenggang, secretary of the Chongqing Liangjiang New Area Party Work Committee, communicated with the entrepreneurs involved.

Via video link, Li Shuo, vice-president of Baidu Inc, introduced the company as a platform-type technology firm with a powerful internet-based foundation. He also announced the firm's future focus in the new area – automobile manufacturing and electronic information, which will be strengthened by Baidu's industrial ecology and technological resources.

The firm will build an industrial internet platform in Liangjiang based on its AI technologies. It will also contribute to constructing the new area's ecological innovation circle by integrating its AI talent-training system and financial service system into the program.

According to the vice-president of Legend Holdings, Wei Jianqiang, the company is expecting smooth progress for its project in Liangjiang.

Perfect World Investment & Holding Group will reportedly establish its big data analysis and security platform in the new area. It will build three R&D centers committed to full-process solution plans for clients in the fields of telecommunication operations, financing, energy and education.

ASK Group Co will also establish a manufacturing base in Liangjiang, which will handle the design, research and production of the firm's car audio system.