A Miao folk artist draws patterns for batik products. [Photo by Feng Minghui/chinadaily.com.cn]

Some 18 agreements, worth 7.52 billion yuan, were signed on the opening day of the Guizhou Cultural Industry Investment Promotion Fair in Shenzhen.

The event began on Friday, the second day of the 11th China (Shenzhen) International Cultural Industries Fair (ICIF).

Agreed projects include cultural tourism, entertainment and light manufacturing. It is estimated they will be completed within 5 years and create nearly 3 billion yuan in output value annually.

"There were 11,698 cultural industry companies in the province by 2013, creating a profit of 20.9 billion yuan and contributing 2.62 percent GDP in the region," said Bai Fangqin, deputy minister of the press department of Guizhou provincial party committee.

He stressed that development of the cultural industry is progressing at a rapid rate and that the combination of technology and tourism is a key area for Guizhou's future.

It is the 10th time Guizhou delegates have taken part in the ICIF. Themed "Colorful Guizhou", its exhibition showcases more than 1,000 products highlighting both cultural creativity and traditional art and handcrafts.