16 agreements totaling 58 billion yuan signed between Shaanxi and Shenzhen

Sixteen agreements involving an aggregate investment of 58 billion yuan ($8.4 billion) were signed in an economic and trade cooperation promotion held by West China's Shaanxi province in Shenzhen Tuesday.

The southern city was the second leg of the 8th Shaanxi-Guangdong-Hong Kong-Macao Economic Cooperation Week, a major Shaanxi event that aims to increase exchanges, seek more business opportunities and further expand cooperation with counterparts from the greater bay area.

Wei Zengjun, vice governor of Shaanxi, said in the keynote speech that the province should learn from the successful experience of Shenzhen, which became an economic miracle of China, growing up from a small town to a modern metropolis with a gross domestic product 11,000 times greater than it was 40 years ago.

The two sides have worked closely in the sectors of advanced manufacturing, modern services, energy and environmental protection, real estate, culture and tourism, but Wei noted that cooperation could be further upgraded.

"We hope the companies from Shenzhen will actively participate in the development of the key industries in Shaanxi, such as electronic information, equipment manufacturing, high-end energy and chemistry, new-energy vehicles and the integration of military and civilian industries," Wei said.

He also suggested that the companies and scientific research institutes of both sides could jointly build a mutual research platform for market transformation of scientific achievements.

Both sides could also strengthen cooperation in terms of culture and tourism since the resources in the two markets could be complementary, he said.

According to official figures, companies and institutes in Shenzhen and Shaanxi have so far signed 1,919 agreements and put about 370 billion yuan into various projects.