New area inks 16.3b yuan of service projects

The Liangjiang New Area Service Industry High-quality Development Convention takes place on June 13. [Photo/liangjiang.gov.cn]

At the Liangjiang New Area Service Industry High-quality Development Convention held on June 13, Liangjiang New Area in Southwest China's Chongqing municipality signed agreements for 12 major projects involving a total investment of 16.3 billion yuan ($2.3 billion).

Vipshop Holdings Ltd will lay out its second operational center in China, forming its digital group-buying platform, which will also handle the distribution, sale and after-sales services of digital products. The center is expected to achieve about 60 billion yuan in annual sales revenue.

Hangzhou Hongyi Energy Co plans to fund its southwestern operational base in Liangjiang, which will mainly be used for investment in petroleum product trading, oil tanks and gas stations. The petroleum product trade volume is expected to surpass three million metric tons.

iQIYI Sports is currently the largest sports streaming platform and sports rights operator in China, with over 10 million paying users and monthly active users sometimes reaching into the hundreds of millions. The platform holds a vast array of top international sports event rights. It plans to establish a subsidiary in Liangjiang, engaging in the production and broadcasting of sports internet content, sports rights transactions, digital content exhibitions, and interactive experiences.