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Agreements for 40 new projects were signed at a ceremony in Qingpu New City on Friday as the district government rolls out initiatives to attract businesses from the Yangtze River Delta region. Qingpu is one of Shanghai's five new suburban towns.

Agreements signed include strategic partnerships with the University of Shanghai for Science and Technology (USST), China Telecom Shanghai branch, and Bank of Communications Shanghai branch. The Yangtze River Delta AI+ Joint Innovation Center, which is being run in collaboration with Huawei, was also launched at the event.

A cluster of corporate headquarters, research and development centers, and production bases are putting down roots in Qingpu New City, a suburban district of Shanghai which connects with Jiangsu and Zhejiang provinces. The district is leveraging its strategic location to build a hub of innovation for the Yangtze River Delta.

Accounting for 13 percent of Qingpu's land area, the 91.1-square-kilometer New City contributes 40 percent of the district's GDP and 65 percent of its industrial output above designated size.

Qingpu New City is focusing its development efforts on a "1+3" framework, comprised of a central business district, an urban renewal practice zone, a future city model area and an industrial innovation park. The 6.5-square-kilometer central business district will serve as a nucleus for future growth.

Positioned as a town with "high aesthetics, Jiangnan charm, innovative core and warm home", Qingpu New City is prioritizing the new generation of information technology industries and aims to cultivate a trillion-yuan ($139.49 billion) level industry cluster.

A key element of the area's collaborative development is "Beidou and low-altitude economy", which will be supported by new-generation information technology.

Tapping into its strategic location, it is also developing a comprehensive transportation network, including a major three-line subway interchange. Ecological spaces will also be created in the New City to attract new businesses and foster a welcoming environment for residents and businesses alike.

The "Qingpu Responds to Enterprises" digital service platform, which will streamline communication and problem-solving for businesses in the district, was also launched on Friday.

Luo Bin contributed to this story.