Sino-German (Shenyang) High-end Equipment Manufacturing Industrial Park signed five deals at a promotion fair held in Beijing on April 27.

The deals, at a total investment volume of around 10 billion yuan ($1.58 billion), involve sectors of intelligent manufacturing, high-end equipment manufacturing and renewable energy.

Approved by the State Council in December 2015, Sino-German (Shenyang) High-end Equipment Manufacturing Industrial Park is a strategic cooperation platform for the Chinese and German high-end equipment manufacturing industry, and in line with the Made in China 2025 strategy and German Industry 4.0 strategy.

Currently, the Sino-German industrial park is managing the construction of 203 projects from five industries, including intelligent equipment, high-end equipment, automobile manufacturing, industrial services and strategic emerging industry.

In 2017, the total industrial output value in the industrial park reached 66.26 billion yuan, a year-on-year increase of 60.3 percent. Meanwhile, it also generated 8.04 billion yuan of tax revenue for the local government.