China's Shenzhen proves investor hotspot with over 260 deals inked

Photo taken on Dec. 15, 2021 shows the 2021 Shenzhen Global Investment Promotion Conference in Shenzhen, south China's Guangdong Province. (Xinhua/Liang Xu)

SHENZHEN, Dec. 16 (Xinhua) -- South China's metropolis of Shenzhen, a technological powerhouse, saw more than 260 deals with a total investment of over 820 billion yuan (about 128.8 billion U.S. dollars) signed at a conference on Wednesday, as the city tries to attract global investors.

The 2021 Shenzhen Global Investment Promotion Conference, with 12 overseas parallel sessions, attracted global companies in a wide range of fields, including ABB Group, Metro AG, American Express and SANY Group, among others.

"As a city featuring technological innovation, Shenzhen has advantages in terms of its industrial chain, talent and supporting policies, which gives more confidence to ABB Group to further increase investment in the city," said Cao Yang, head of ABB China Electric Transportation Business Unit, China.

As a flagship of China's high-tech industrial development, Shenzhen boasts a bevy of Chinese startups and tech heavyweights, including Huawei and Tencent.

Shenzhen also saw foreign trade grow 15.2 percent year on year to 2.51 trillion yuan in the first three quarters of this year, according to Shenzhen Customs.