During today's Mianyang Technology Fair, electronics giant Changhong plans to sign agreements with many domestic and foreign investors. The total value of those agreements will be worth more than CNY3.5 billion.

Changhong's spokesperson, Liu Haizhong, has confirmed that of these agreements, Changhong will set up two new companies: Guohong Communications Technology Co., Ltd and Changhong Technology Information Co., Ltd.

The first company will be engaged in 3G mobile phone production and sales, and Changhong will control the majority of its shares.

The second company will be a cornerstone of Changhong's main strategy. Changhong has formed strategic partnerships with Microsoft (MSFT) and China Telecom, making use of China Telecom's broadband charging channels, and frequency platform and using Microsoft's streaming media technology. Changhong will also cooperate with Shanda (SNDA) to produce IPTV set-top box. By combining these relationships and technologies, Changhong plans to be a major player in the IPTV and streaming Internet content sector.