The Xuhui district of East China's Shanghai marked a significant milestone with the signing ceremony of its fourth batch of major projects on Nov 15.

Held at the Caohejing Development Zone, the event involved 20 groundbreaking projects spanning a wide range of sectors such as semiconductors research and development, large models technology and pharmaceuticals distribution.

Things get underway in the conference hall during the signing ceremony. [Photo/eastday.com]

In particular, MiniMax – a popular startup specializing in large-scale artificial intelligence models – participated in the ceremony.

Its MiniMax-abab AI model gained approval as part of the country's first large model service record filing in August. Nowadays, the company stands among three exclusive enterprises selected in Shanghai, holding the qualifications to provide services to the public in its field of endeavor.

Additionally, the signing ceremony unveiled collaborative initiatives between district and global entities – including the Singapore Chinese Chamber of Commerce & Industry, the Japan External Trade Organization and the Benelux Chamber of Commerce in China.

The goal of the event was to serve enterprises on both ends and fortify a two-way cooperation platform that adheres to the principles of "bringing in" and "going out".

Moving forwards, plans are for Xuhui district to introduce a suite of services and support plans. This will extend global collaboration and propel local enterprises towards becoming multinational corporations within a robust global footprint.