69.2 billion yuan in deals signed at Guangdong expo

Several projects with combined investment worth 69.2 billion yuan ($11.4 billion) were signed during the 5th East Guangdong Overseas Chinese Expo, which opened on Friday in Shantou, Guangdong province.

The projects were signed between authorities from the cities of Shantou, Jieyang, Shanwei and Chaozhou with a number of overseas Chinese businesses.

Lin Musheng, secretary-general of the Party committee of Guangdong, said the investment projects will help transform industries and boost the economy in the province's eastern area.

The projects involve emerging industries, the services industry, infrastructure to public facilities.

The East Guangdong Overseas Chinese Expo, which was launched in 2008, is held in turns annually in the four cities of Shantou, Jieyang, Shanwei and Chaozhou, which are home to a large number of overseas Chinese business people such as Hong Kong tycoon Li Ka-shing.