783.6 billion yuan in investment is hammered down in East China's Fujian province on April 26 at a grand "cloud signing" ceremony. [Photo/fjdaily]

A total of 783.6 billion yuan ($110.7 billion) in investment for 391 projects in Fujian province was signed into agreement at an online investment fair held in Fuzhou on April 26.

The 391 projects focus on infrastructure construction and the transformation and upgrading of traditional industries and strategic emerging industries. Ninety-two of the projects received a total of 424.5 billion yuan in investment from Central enterprises.

Chinese networking giant Datang Network plans to build an industrial base for 5G development in the city of Putian. The first phase of the project is expected to begin operating in 2021.

It will serve as an important strategic base for the company in its efforts to expand into overseas markets. This will in turn help the city form a cluster for the application of 5G and achieve its goal of producing 100,000 units (sets) of 5G microbase stations annually.

"Fujian boasts a strong investment environment, and digitization and innovation have seen significant development in the province over the past few years, making it one of the best places for the integrated development of emerging technologies such as 5G, artificial intelligence, big data, and internet of things," said Yang Yong, president of Datang Network.

"Datang will carry out extensive cooperation in 5G technology and work together with the provincial government to drive infrastructure construction for the next generation of information, aiming to build Fujian into a model for the development of the digital economy," Yang said.