A total of 202 investment projects with an overall investment of 162.2 billion yuan ($22.85 billion), as well as 24 cooperation agreements were signed on "Beijing Day" held during the 2024 China International Fair for Trade in Services.

The Beijing-Tianjin-Hebei investment promotion conference was held at the event as a platform to link investment promotion efforts across the three regions and to promote further coordinated high-quality development.

Leveraging CIFTIS as a national-level platform for international cooperation, the event attracted high-level representatives from local governments, domestic and foreign business associations, and Fortune 500 companies.

Maurizio Rasero, mayor and provincial governor of Asti, a province in Piedmont, Italy, and Ismail Ersahin, executive director of the World Association of Investment Promotion Agencies, delivered speeches on behalf of foreign governments and international organizations.

Rasero expressed his hope for establishing a path filled with growth, prosperity and development with China, emphasizing that the established city-to-city friendships and exchanges will play a crucial role in strengthening the bridge of friendship between Italy and China.

"The Beijing-Tianjin-Hebei region is not only a driving force for regional development, but also crucial to the global economy," said Ersahin.

"Through enhanced international cooperation, the region's full potential could be realized, creating a future that benefits not only the local population but also contributes globally."

During the event, the three regions jointly announced 202 new investment projects, spanning key industries such as new energy and intelligent connected vehicles, robotics, integrated circuits, hydrogen energy, high-end industrial machine tools, biomedicine, cybersecurity and industrial internet, with a total investment of 162.2 billion yuan.

The conference featured themed presentations, business-led investment promotions, key industrial park introductions, industry fund investment promotions, as well as consultations and matchmaking sessions.

The event attracted a big number of domestic and overseas companies, resulting in the signing of three key projects in the Beijing-Tianjin-Hebei region.

Wei Chuanmei, a professional in the smart property sector, consulted with the Tianjin Commission of Commerce about company policies and incentives in the hope of establishing a subsidiary in the area. Even after the conference, Wei remained at the venue to gather additional information on related policies and benefits in the Beijing-Tianjin-Hebei region, according to a report in China Youth Daily.

Importantly, Beijing Customs announced that the State Council has approved the establishment of the Beijing E-Town Comprehensive Bonded Zone. The Beijing Economic-Technological Development Area Administrative Committee, where the zone is located, signed agreements with 16 new enterprises and five ecosystem partners joining the bonded zone.

This zone, approved at the fastest pace in the country, is the first to focus on the development of new quality productive forces, the first to integrate advanced high-tech scenarios, and the first to adopt a green and ecologically integrated industrial-urban model, according to the local government.

Li Boyu contributed to this story.