Officials in charge of the Liangjiang New Area, an economic development zone in southwest China's Chongqing Municipality, signed 18 agreements worth 32.1 billion yuan (US$4.73 billion) at an international trade fair Thursday.

The China International Fair for Investment and Trade in Xiamen, a coastal city in east China, is one of the largest trade fairs in the world. This is the first time the Liangjiang New Area has participated in such a global event.

The agreements include projects for advanced manufacturing, high technology and modern service areas. There are 10 projects worth more at least 1 billion yuan (US$147 million), two of which are worth more than 5 billion yuan (US$738 million).

Moreover, the 1-billion-yuan Norway Pavilion are likely to relocate to Chongqing after the Shanghai 2010 World Expo.

The Liangjiang New Area, which was established in June, is the third economic development zone with national significance, after the Pudong New Area in Shanghai and Binhai New Area in Tianjin. Located in the upper reaches of the Yangtze River, it enjoys preferential state policies on trade and investments. So far, more than 100 Chinese and foreign companies have shown interest in setting up business there.