Agreements for 152 major industrial projects are signed in Shanghai on March 31. [Photo/WeChat account: shlgguanweihui]

Agreements for 152 major industrial projects with a total investment of about 442 billion yuan ($62.22 billion) were signed in Shanghai on March 31, and 26 characteristic industrial parks and 60 square kilometers of new industrial space were officially launched.

A total of 28 major industrial projects with a total investment of 162 billion yuan were signed on the site. The other 124 major industrial projects with total investment of about 280 billion yuan were signed in the form of "cloud contracts" between management committees of Shanghai's 16 districts, Lin-gang Special Area of China (Shanghai) Pilot Free Trade Zone, Hongqiao central business district and enterprise representatives.

The projects mainly related to integrated circuits (IC), artificial intelligence (AI), biological medicine, aeronautics and astronautics, intelligent manufacturing, high-end intelligent equipment, new materials, new energy and financial services, commercial retail and business services.

UNISOC, the world's third largest mobile phone chip designer, plans to locate its listed headquarters in Shanghai's Zhangjiang area to carry out research and development (R&D) of 5G and next-generation communications technology.

SenseTime, an AI pioneer specializing in computer vision and deep learning, is planning to build a new generation of AI computing and an enabling platform in Lin-gang Special Area, with 5,000 cabinets built in the first phase and 10,000 in the medium and long term. The new system which will become the world's leading computing platform.

Shanghai has the most concentrated regional headquarters and R&D centers of multinational companies on the Chinese mainland. The constantly improving business environment has strengthened the confidence and determination of Chinese and foreign enterprises to dig deep into the Chinese market and take root in Shanghai.

Among the 152 projects, the total investment in foreign projects exceeded $16 billion.

In addition, 26 characteristic industrial parks with areas of three to five sq km each were promoted. These industrial parks are clearly positioned, aiming at the six core industries of IC, AI, biomedicine, aerospace, new materials and intelligent manufacturing.