Representatives from both sides sign the agreements during the Chongqing-Switzerland Economy and Trade Cooperation Forum in Zurich on July 17. [Photo/liangjiang.gov.cn]

Representatives from Southwest China's Chongqing municipality and Switzerland met in Zurich on July 17 and pledged to build a Sino-Swiss industrial park in Liangjiang New Area.

According to the agreement, the two sides will launch 15 joint projects in fields such as large equipment, smart manufacturing, artificial intelligence, and new energy.

The ABB Transformer Project and the Smart Manufacturing Industrial Park, for example, will have an initial cost of as much as $280 million.

The park will consist of two functional areas (R&D and manufacturing), six open platforms (manufacturing, R&D, finance, information, etc.) and 10 innovative industries.

It is expected to become a new industrial powerhouse in Liangjiang New Area -- China's first inland pilot region -- developing innovative technologies for precision manufacturing, medical equipment and clean energy vehicles.

Attending the signing ceremony were representatives from 103 Swiss enterprises, institutes and agencies. Tang Liangzhi, mayor of Chongqing municipality, was head of the Chinese delegation.

International cooperation has recently become a central focus of Chongqing as an important path towards reform and opening-up.

Liangjiang New Area has already forged strong partnerships with Switzerland, Germany, Japan, Korea, Italy and Singapore.

By 2020, there is expected to be 250 foreign-invested projects operating in the area, according to Tang Zongwei, deputy director of the administrative committee of Liangjiang New Area.

The actual utilization of foreign capital will hopefully reach $2 billion, he noted.