Shanghai launched its first 5G industrial park on Thursday to boost the development of the superfast technology and intelligent manufacturing.

The opening ceremony, which was held in Shanghai's Jinqiao Economic and Technological Development Zone, saw 42 enterprises and key projects commit investments totaling 13 billion yuan ($1.86 billion).

Having attracted luminary enterprises like Huawei Technologies and SAIC Motor, the park is focused on the integration of 5G technology with automobiles of the future, smart manufacturing and data ports.

Since China kicked off 5G commercialization in 2019, the industrial park has attracted 5G innovation centers of Huawei and China Mobile’s Shanghai branch, as well as an open lab of the China Academy of Information and Communications Technology.