A photo taken on June 18 shows the launch of an innovation-driven industrial cluster of the digital economy at the 2022 Foshan Innovation Development for Digital Economy & Smart Social Governance Conference.[Photo provided to chinadaily.com.cn]

Foshan, a city of South China's Guangdong province, launched an innovation-driven industrial cluster of the digital economy at the 2022 Foshan Innovation Development for Digital Economy & Smart Social Governance Conference, on June 18.

Zheng Haitao, Party chief of the Foshan National High-tech Industrial Development Zone, delivers a speech at the 2022 Foshan Innovation Development for Digital Economy & Smart Social Governance Conference, on June 18. [Photo provided to chinadaily.com.cn]

Noting that Foshan and Chancheng Park have witnessed robust growth in the digital economy and have attracted the settlement of many key projects in the sector over the past few years, Zheng Haitao, Party chief of the Foshan National High-tech Industrial Development Zone, said at the inaugural ceremony that the city will continue to optimize its business environment, adopt favorable policies on technology and human resources, and work together with local firms to promote the development of the digital economy.

The inauguration of the industrial cluster of the digital economy, which covers an area of over 20 square kilometers in Chancheng Park of the Foshan National High-tech Industrial Development Zone, represents a new landmark made by the park in the development of the digital economy.

An aerial photo of Chancheng Park of the Foshan National High-tech Industrial Development Zone [Photo provided to chinadaily.com.cn]

During the conference, leading domestic high-tech firms, which included Huawei, Tencent, Alibaba, JD and Kuaishou, signed agreements with Chancheng Park on the investment and construction of 26 key projects of the digital economy.

These projects are expected to further promote the convergence of human resources, technology and other factors, and will accelerate the development of the industrial cluster of the digital economy in the Foshan National High-tech Industrial Development Zone.

So far, a number of key digital economy projects, such as the industrial internet headquarters ofCR Digital and the Huawei (Chancheng) Industrial Internet Innovation Center, have landed in Chancheng Park of the Foshan National High-tech Industrial Development Zone, driving the development of other sectors of the digital economy there.

The Foshan National High-tech Industrial Development Zone is set to attract at least 40 projects, with a projected investment of over 100 million yuan, will foster over 6,000 firms of the digital economy and push its output value to exceed 100 billion yuan by 2025.

Meanwhile, six major banks granted credit of 30 billion yuan at the conference to spur the growth of the digital economy in Chancheng Park of the Foshan National High-tech Industrial Development Zone.

Chancheng Park of the Foshan National High-tech Industrial Development Zone will grasp the development opportunities brought about by the industrial cluster of the digital economy, and will roll out more policies to promote the building of a sci-tech innovation park of the digital economy, facilitate the industrialization of the digital economy, as well as the digitalization of industrial development, and become a benchmark for the development of the digital economy.