A bird's-eye view of Liangjiang New Area's Digital Economy Industrial Park in Southwest China's Chongqing [Photo/liangjiang.gov.cn]

News from Chongqing Big Data Application Development Management Bureau suggests that key digital economy parks in Chongqing municipality, Southwest China, have registered a total scale of over 800 billion yuan ($120 billion).

All these digital economy parks benefited largely from the Smart China Expo held in Chongqing, said one official from the bureau.

The truth is that the expo has brought opportunities and a future to these parks in more than one way.

In terms of business and investment promotion, Liangjiang New Area's Digital Economy Industrial Park has successfully introduced internet giants, including Tencent, Huawei, and Chinasoft International through platforms offered by the expo. The China Intelligence Valley (Chongqing) Science Park has brought in Rootcloud, JD, and Qunar.com in the same way, which has accelerated the integrated development of the industrial internet, e-commerce, and culture and tourism sectors.

Statistics show that from January-June this year, the number of newly registered digital economy enterprises in Liangjiang New Area's Digital Economy Industrial Park alone stands at 550, surging by 30 percent year-on-year.

The expo also organized special recruitment activities to ensure sufficient talent flow into these key digital economy parks.

In terms of technological innovation, the expo offered platforms for the Western China (Chongqing) Science City to establish business partnerships with Xiaomi and Baidu – two internet titans excelling in internet and smart devices – which in turn led to the establishment of Baidu Apollo (Chongqing) Research Center and Xiaomi Fin-Tech Laboratory.

By 2020, the Western China (Chongqing) Science City was already home to 271 research institutions above the municipal level, and Liangjiang's Digital Economy Industrial Park had established more than 160 scientific R&D platforms, as well as over 10 major laboratories above the municipal level, due to its consistent collaboration with the world's top universities, including the National University of Singapore and Beijing Institute of Technology.