Quanzhou, a city in East China's Fujian province, held an industry chain investment promotion and project signing event on Aug 29.

With a total investment of 108.04 billion yuan ($15.78 billion), 158 project contracts were signed, covering fields such as optical chips, artificial intelligence, satellite remote sensing and 5G communications.

Quanzhou holds an industry chain investment promotion and project signing event on Aug 29 via video conference. [Photo/people.com.cn]

Of the total, 28 projects received an investment of more than 1 billion yuan, including one project with investment exceeding 20 billion yuan.

The event's main venue was in Quanzhou, with branch venues in all counties and county-level cities in Quanzhou, as well as Beijing, Shanghai and Shenzhen, connected through a video conference platform.

At the event, the Quanzhou development and reform commission introduced the city's industrial cluster layout, aiming to attract projects, funds, technology and talents.

As one of the most representative regions developing the private economy in the country, Quanzhou currently has more than 300,000 private enterprises, and its gross domestic product has ranked first in the province for 21 consecutive years.

The city's GDP grew by 7.1 percent in the second quarter this year, ranking first in the province.