A total of 18 investment deals worth over 60 billion yuan ($8.53 billion) were signed on Nov 25 between the southern city of Shenzhen and Harbin, capital city of Northeast China’s Heilongjiang province, according to the local authorities.

The signed deals mainly involve the internet, finance, new materials, biomedicine, tourism, technology and food.

Among the deals is one featuring the promotion of investment and starting businesses in Harbin at the 9th Chaoshan Businessmen Convention, which is scheduled to be held by the Chaoshan Chamber of Commerce in Harbin next year.

The deals, which are under way, are in line with Harbin’s economic and industrial development expansion. Officials said they are of great importance for Harbin to adjust its industrial structure and achieve its industrial transformation and upgrading.

Officials added that they also highlighted the achievements in cooperation between Harbin and Shenzhen.

Known as the “Ice City”, Harbin is located in  northernmost Heilongjiang province and Shenzhen, a beacon of reform and opening-up, lies in South China’s Guangdong province.

The two established a strategic cooperation relationship in 2018 to accelerate their industrial transformation.

“The government of Harbin is continuously making efforts to create a fair, transparent and excellent business environment to stimulate endogenous (internal) market forces,” said Sun Ze, mayor of Harbin, at a match-making meeting held in Shenzhen on Nov 25.

Sun also expressed his hope that more Shenzhen’s entrepreneurs would pay attention to Harbin, learn about Harbin and invest in Harbin.