The International Investment Forum of the 20th China Zhejiang Investment and Trade Symposium was held in Ningbo, a coastal city in east China's Zhejiang province on June 7, with over 30 billion yuan of contracts signed between the province and foreign countries during the event.

A total of 14 foreign-invested contracts worth 31.03 billion yuan (US$ 4.86 billion) were signed, covering sectors including the digital economy, new energy, new materials and intelligent manufacturing.

In addition to the foreign-invested ventures, 10 domestic projects with a combined worth of 34.86 billion yuan were also signed during the event, covering sectors including food processing, new materials, integrated circuit and high-end equipment manufacturing.

Kanneth Jarrett, president of the American Chamber of Commerce in Shanghai, said based on a quarterly survey of its organization that the investment of American companies in China has remained stable in recent years, and China's increasing consumption and urbanization will create more opportunities for foreign companies.

According to the Department of Commerce of Zhejiang provincial government, by April 2018, Zhejiang province had attracted 61,998 foreign-invested companies and a total investment volume of US$ 644.53 billion. From January to April this year, 918 new foreign-invested companies settled in Zhejiang, with a total investment volume of US$ 21.78 billion. 

Looking forward, Zhu Congjiu, vice governor of Zhejiang province, said at the forum that "Zhejiang will strive for a new ground of all-round opening up, and serve as a critical part of the Belt and Road."

Nearly 700 representatives attended the forum, including those from the world’s Top 500 companies and industrial leading companies, foreign chambers of commerce, outstanding companies in Zhejiang province, and relevant Zhejiang provincial government departments.

The provincial symposium also includes two B2B communication sessions after the forum in the city on the same day as well as a tour for international companies to visit companies in Hangzhou, capital of Zhejiang province, on June 8.

The symposium, which has been sponsored by Zhejiang provincial government in 1999, has now grown into the largest platform for investment and trade communication in Zhejiang. In addition to the symposium, Ningbo will also host the fourth China-CEEC Investment and Trade Expo and the 17th China International Consumer Goods Fair during this week.