The first Digital China Summit concluded in Fuzhou, capital city of East China's Fujian province on April 24, with fruitful results.

The three-day event shined spotlights on China's e-governance, digital economy and smart society, as part of the country's broader push to seek new development through technological innovation.

It also served as a platform to match high-techs with market capital as 293 exhibitors displayed the latest digital economy achievements at an expo held on its sidelines.

Statistics show that more than 400 contracts relevant to the digital economy, worth 360 billion yuan, were reached during the summit, with its closing ceremony alone seeing the inking of 29 contracts worth 42.3 billion yuan.

China's internet giants have accelerated their investment in the electronics and information sector in Fujian.

Fujian Electronics & Information (Group) Co Ltd signed cooperation agreements on Monday with 40 partners, including Chinese technology giants Alibaba Group Holding Ltd, Tencent Holdings Ltd and Baidu Inc, with investment topping 10 billion yuan ($1.6 billion).

Meanwhile, a national digitalization research institute alongside an alliance for core technology industries in China was inaugurated at the closing ceremony.

According to Xu Guanhua, former minister of science and technology, the institute's establishment, based on Fujian's vibrant digital economy, will pool more professional intelligence in the course of building China into a more digitalized country.

Fujian's digital economy exceeded 1 trillion yuan in 2017, accounting for one-third of the province's GDP and ranking sixth nationwide.