Lingang Special Area releases industrial map
December 3, 2019 Category Foreign trade, Weekly
The Lingang Special Area of the China (Shanghai) Pilot Free Trade Zone (FTZ) has released its industrial map on November 28, presenting the layout of the key industries in the zone. Lingang will focus on seven industries, covering integrated circuits, artificial intelligence (AI), biomedicine, aerospace, new energy vehicles, equipment manufacturing, and green remanufacturing. The zone is also focusing on the development of five modern services, namely international trade, cross-border financial services, shipping services, information services, and scientific and technological innovation services. Chen Jie, Deputy Director of the Lingang Administrative Committee, said Lingang’s role in industrial development is to unblock bottlenecks and support the innovative growth of emerging industries.
“The map presents enterprises with the industrial development orientation and the overall layout of the area,” said Chen Yi, Director of the Investment Management Department at the Shanghai Lingang Industrial Area Economic Development Co. The area is divided into eight regions. For example, the frontier industrial zone will gather enterprises in integrated circuits, smart new energy vehicles (NEVs), high-end equipment manufacturing, green remanufacturing, technology and aerospace. Companies related to cross-border financial services, international trade and international medical services will be in the zone for the modern services industry.
Seven projects involving a total investment of CNY15 billion in the special area were also signed, including ACM Research (Shanghai)’s equipment R&D and manufacturing center, an aircraft parts manufacturing project of Shanghai Aircraft Equipment Manufacturing Co, and an intent on strategic cooperation with Tokyo Electron (Shanghai).
An investment promotion and service center was set up in the area to help enterprises understand the advantages of the Lingang New Area, illustrate policies, and help in the procedure during and after the launch of the enterprises in the area. Covering an area of 119.5 square kilometer, the Lingang area will be set up to the south of Dazhi river, east of Jinhui port, and south of Xiaoyangshan island and the Pudong International Airport in Shanghai. More than 90 projects have been agreed and are planned to be launched in the area. The first batch of 23 key projects were started on September 12, with a total investment of more than CNY11 billion. In the past 100 days, a series of favorable policies to boost talent attraction, financial support and industry innovation were launched, the Shanghai Daily reports.
In the first half of this year, the country’s initial 12 FTZs attracted foreign investment of nearly CNY70 billion, accounting for 14% of the country’s total.
- KURT VANDEPUTTE (UMICORE) APPOINTED CHAIRMAN OF THE BOARD OF THE FLANDERS-CHINA CHAMBER OF COMMERCE (FCCC)
- Webinar: “Knowing Your Chinese Partner” – May 26, 2021, 10 am – 12 am
- EMA starts rolling review of CoronaVac, WHO approves Sinopharm vaccine for emergency use
- The Global Times warns not to politicize the Comprehensive Agreement on Investment (CAI)
- Hainan to become biggest duty-free market in the world