SHENZHEN is planning to introduce key industrial projects worth over 1 billion yuan (US$142 million), investment projects from Fortune 500 companies and major headquarters projects in 2020, according to the Shenzhen Municipal Commerce Bureau.

The bureau also launched “cloud promotions,” making business investment more convenient amid the COVID-19 outbreak.

A staffer with the bureau said that the cloud promotions platform effectively reduces time spent on business consultation, communication and project management.

At present, over 500 companies have expressed their intention to make investments in Shenzhen this year, according to Shenzhen Special Zone Daily.

In the first quarter of this year, Luohu District signed online contracts worth 2.84 billion yuan with companies including REC. Three companies with registered capital of over 100 million yuan have settled in Yantian District.

Both Longhua and Pingshan districts have used online methods to attract investment of 500 million yuan from Sant Hydraulic and 300 million yuan from biomedical tech company Kaiyao.

(Wang Jingli)