Thirty-two companies from Beijing and Macao have signed 16 business agreements worth 2.57 billion yuan ($405.30 million) during the first Beijing-Macao Economic and Trade Exchange Symposium.

Event organizers said 13 of the agreements are for cultural innovation projects and accounted for 81.3 percent of the total amount.

The four-day symposium, organized by the Beijing Municipal Government and the Macao Special Administrative Region, will run until Sunday.

"The event will concentrate on promoting cooperation between the two cities, in services trade, tourism, the cultural innovation industry and city management, " said Chui Sai On, chief executive of the Macao Special Administrative Region.