Shanghai takes measures to modernize manufacturing
Shanghai has issued a three-year plan to boost high-quality development of the manufacturing industry, covering the chip, electric car, new material and biomedicine sectors, city officials said on Thursday.
Shanghai is offering support covering land, talent, finance and computing resources to push the development plan, with more "Tesla-like" projects to emerge in the city by 2025, officials said at a city-level conference on Thursday.
By 2025, Shanghai's industrial added value will exceed 1.3 trillion yuan (US$183. 1 billion), accounting for more than a quarter of the city's gross domestic product (GDP).
The city will also boost advanced manufacturing, innovation and digital and green transformation to fuel economy development and upgrade.
"Manufacturing is the foundation of a modernized city and country, and an important support for the real economy. It's a national strategy to develop it," Shanghai vice mayor Li Zheng told the conference.
By 2025, industrial revenue of the city's three strategic sectors, namely integrated circuits, biomedicine and artificial intelligence, will reach world-leading levels. The research spending of core manufacturing enterprises will surpass 2.5 percent of their total revenue to boost innovation.
The city will also build 200 demonstration smart factories, according to Wu Jincheng, director of the Shanghai Commission of Economy and Informatization.
In addition, the city will launch 20 measures in six categories to boost industrial modernization, with city-level bureaus offering support with land, finance and other sectors.
For example, advanced manufacturing firms' land supply will be ensured and they will be encouraged to get listed on the capital markets, including the STAR Market, an innovation-oriented board.
By 2025, Shanghai will have an additional 15 giant manufacturing firms with annual output exceeding 10 billion yuan each, and additional 50 industry-leading firms. Firms will be persuaded to invest or set up regional headquarters in Shanghai, said Wu.
The Lingang Special Area, in the Pudong New Area, will attract more advanced manufacturing firms, mainly in the chip, new-energy car and energy-storage sectors.
There will be more "Tesla-like" projects in Lingang and Shanghai, said Wu Xiaohua, a senior official of the Lingang Special Area.
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