A total of 292 projects and deals were signed off between Beijing and Shenyang -- capital city of Northeast China’s Liaoning province -- in the first seven months of this year, according to local officials.

They said the deals represented a total investment of more than 20 billion yuan ($2.87 billion). 

They mainly involved projects in emerging industries such as high-end equipment manufacturing, new generation information technology, new materials, new energy, as well as big data and e-commerce. 

The projects, which are currently under way, are in line with Shenyang’s economic and industrial development expansion. 

Officials said they are of great importance to Shenyang, to adjust its industrial structure and achieve its industrial transformation and upgrading.

One example is the planned Shenyang Guangda Artificial Intelligence and Internet of Things Industrial Center. 

This project is being funded by a subsidiary of Terminus Group, which uses artificial intelligence and internet of things technology to create one-stop solutions for urban management, building energy management, and environment and infrastructure operation management.

Officials said that its settlement in Shenyang will not only bring investment and technology to the city, but also finance and industry.

They said it will help attract upstream and downstream enterprises in the internet of things industry to Shenyang, helping the city's new economic development.

Officials added that the signing of these deals also highlighted the achievements in cooperation between Shenyang and Beijing under a strategic cooperation mechanism -- a concrete measure undertaken since the implementation of the new round of strategic revitalization of northeastern China.

The two cities established a strategic cooperation relationship in 2017 to accelerate their industrial transformation.

This year, the two sides have also witnessed an improvement in resources sharing in the technology and public fields.

In the first half of this year, the number of technology transactions between Shenyang and Beijing continued to increase, with the value of contracts reaching 1.15 billion yuan.