2020 Smart China Expo Online registered 271.2 billion yuan ($40.14 billion) investment in 71 projects during a signing event on Wednesday, Xinhua reported.

China South Industries Group Corporation, China Electronics Technology Group Corporation, Alibaba Group, BASF SE and other entities will invest in fields such as smart manufacturing, smart application, smart medical care and smart new materials.

The average investment volume for each project is around 3.8 billion yuan. The projects will be mainly located in Sichuan and Guizhou provinces besides Chongqing, the host city of the 2020 Smart China Expo.

During the past two Smart China Expos, more than 1,000 projects reached cooperation consensus, 70 percent of which have been in real action phases.