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$7b worth of deals signed at Beijing Investment Fair

Updated: 2012-06-28 20:31
By Zheng Xin ( chinadaily.com.cn)

Organisers of the fourth Beijing Investment Fair say 21 projects were agreed and 16 domestic investments were made during the event this week, worth a total of 46.2 billion yuan ($7.3 billion).

Gou Zhongwen, vice-mayor of the city, said development of its western region, account for the majority of the projects, or around 42 billion yuan, according to figures from the Beijing investment promotion bureau.

Gou said that the city of 20 million residents is playing host to a continually growing number of companies, after the rapid economic development of recent years which has brought better basic infrastructure, an increasing talent pool, and a better investment environment.

"As the major cultural and economic center of the country, Beijing should fully utilize its resources and take the lead in making itself a international city with worldwide influence," he added.

He said the projects signed relate to key sectors including the technology, cultural and creative industries, adding he was confident the capital will continue to "witness more economic growth in coming years".

Run under the overall theme of "Science, Culture, Innovation and Development", the event was jointly hosted by the People's Government of Beijing Municipality and sponsored by 16 organizations, including foreign affairs office of the People's Government of Beijing Municipality and the Beijing investment promotion bureau.

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