The Promotion Forum on Chongqing held in Shanghai, on Nov 5, during the China International Import Expo (CIIE) [Photo/liangjiang.gov.cn]

Liangjiang (Chongqing) Free Trade Port Area signed projects totaling a value of 4.69 billion yuan ($677 million) on the very first day of the China International Import Expo (CIIE), which is underway in Shanghai from Nov 5 to 11.

As a key platform under Chongqing's opening-up, the port area is the main force of the 33 delegations sent by Chongqing municipality.

Yibao Smart Electronic Devices, invested by Compal Electronics, signed a 1.5 billion yuan contract with the port area. In an area of 310,000 square meters, the company will build a large factory capable of producing over 10 million smart devices in the first year alone.

The port area reached an investment framework agreement with Yupei International Holdings, who will build a 13-hectare cold-chain industrial park and a regional operation center in Liangjiang New Area.

Taiwan's Compal Electronics and Singapore's Trafigura Group both signed purchase contracts with the port area and will export products worth 1.59 billion yuan and 1 billion yuan respectively to Liangjiang.

Liangjiang sees the first CIIE as a golden opportunity and organized over 100 enterprises to take part, including semiconductor display supplier BOE (Chongqing), said an official from the administrative committee of Liangjiang New Area.

"CIIE is an window for global exhibitors to learn about China," he explained. "I hope the expo can put Liangjiang New Area under the spotlight and stimulate the area's high quality development."