China's Chongqing Liangjiang New Area has found an ingenious way of circumventing the country's ongoing travel ban amid the viral epidemic by conducting its first "cloud signing" activity. The novel virtual conference has reportedly even managed to attract 6.9 billion yuan worth of deals and agreements.
Officials of the Chongqing Liangjiang New Area and leaders different Chinese firms held an online signing of contracts using online telecommunications technologies this week. The simple and efficient method to reach agreements remotely managed to promote additional investments in the area without the need for a physical gathering.
During the virtual signing, the Chongqing Liangjiang New Area also established a new online investment platform that can be used for daily business inquiries and other business processing functions.
The Chongqing Liangjiang New Area is the third national development zone established by the country to spearhead economic development in the western region. The area, established in 2010, came after the new areas in Shanghai Pudong and Tianjin Binhai.
The director of the Chongqing Liangjiang New Area Administrative Committee, Duan Chenggang, was present during the virtual contract signing, communicating online with business representatives of companies based in cities such as Guangdong, Beijing, Jiangsu, and Zhejiang.
During the virtual meeting, Duan mentioned to the representatives that the ongoing epidemic should not put a stop to further economic exchanges. The official also thanked everyone that participated in the conference and hoped for further virtual exchanges in the future.
The online-only business conference managed to attract total investments of around 6.9 billion yuan. Seven major projects were virtually inked during the event, including deal in fields such as bio-medicine, new materials, automotive, and Internet of Things (IoT).
The projects that were signed during the virtual meeting included the Langshion Lightweight Automotive Components Project, the Zhongnuo Hengkang 3D Printing Orthopaedic Medical Device and Medical Mask Project, the Zhejiang Jinmei Automotive High-end Membrane Material Project, the Drug Discovery Contract Services Platform by Cyagen Biosciences, the Aerospace China Power Technology PLC and IOT solution Research/Development and Manufacturing Center, and the three other projects.
Participants of the virtual conference praised the Chongqing Liangjiang New Area officials for coming up with such an innovative way of doing business during these trying times.
The deputy general manager of Beijing Zhongnoi Hengkang Biological Technology Co, Fan Guiqi, stated that the online meeting was a thoughtful idea and saved everyone involved a lot of time and money. He also added that having such a meeting is very safe given the viral epidemic. Through the meeting, the company now expects to complete its product line within its initially planned timeframe.
