The Lin-gang Special Area of China (Shanghai) Pilot Free Trade Zone has recently begun "rush hours" of project construction.
Thirty-one projects there were completed on Aug. 16, and 42 new ones were signed on the next day. On Aug. 18, 24 projects of the third quarter commenced, marking a new wave of construction.
Recently, 15 enterprises have signed to move in an industrial park specializing in marine and smart manufacturing industries in the Lin-gang Special Area. The total investment of these enterprises exceeded two billion yuan ($309.5 million), and the total value of output is expected to hit 8 billion yuan.
The industrial park will have a property area of a million square meters and revenue of 30 billion yuan by 2025, and be built into a 100-billion-yuan estate with world-class ecology for the blue economy 10 years later.
Eyeing on frontier technologies, the Lin-gang Special Area is growing into a new source of growth featuring high-quality development. It will center on four core industries of integrated circuit, biological medicine, civil aviation and artificial intelligence, two advantageous industries of smart new energy vehicle and high-end equipment manufacturing, as well as two future industries of green remanufacturing and hydrogen energy.
The development of the whole industrial chain of the Lin-gang Special Area came from the individual breakthroughs made by all business entities doing business there, said Wu Xiaohua, deputy secretary of the Working Committee of the Communist Party of China Lin-gang Special Area Committee.
Statistics showed that 765 projects were signed in the Lin-gang Special Area over the past two years with a total investment of 447.83 billion yuan. 40,329 enterprises were set up there during the same period, increasing 53.7 percent yearly on average, and registered capital surged 218.5 percent each year on average, reaching 674.2 billion yuan.
Gathering new momentum and seeing rapid industrial development, the Lin-gang Special Area is serving as a new source of growth and engine for Shanghai's economic development.
In August 2019, China issued an overall plan for the Lin-gang Special Area of China (Shanghai) Pilot Free Trade Zone, proposing to advance trade and investment liberalization and facilitation, including the free flow of investment, trade, capital, transportation and employment.
Read More at http://en.people.cn/n3/2021/0902/c90000-9891240.html
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