Tall buildings and skyscrapers take control of the horizon of the Huangpu River and the Lujiazui Financial district in Pudong, Shanghai. [Photo/Sipa]
Shanghai launched 64 new projects with a combined investment of 273.4 billion Yuan ($ 42.2 billion) on Monday, covering high-end industries, scientific and technological innovation, infrastructure, core lifestyle and other fields.
The projects will spread across the city and bring out Shanghai’s vast development potential. It includes manufacturing, integrated circuits, biochemical and artificial intelligence projects, as well as high-tech technological innovation, financial and trade industry chain programs.
Shanghai ‘s economy has remained largely unaffected by the effects of COVID-19. From January to November, its fixed asset investment grew 10.7 percent year-over-year, while manufacturing investment rose 19.3 percent, the 33rd month in a series of double-digit growth.
Work on a 150,000-square-meter biopharmaceutical industry base has begun in the city’s Pudong New District. The 8 billion Yuan investment business base focuses on antibodies, vaccines, cell therapy and gene therapy. It will be one of the most advanced industry conglomerates for biopharmaceutical innovation in the country, said Zuo Min, executive director and president of Shanghai Pharmaceuticals Holding Co. Ltd.
According to Zuo, the biopharmaceutical industry foundation will help accelerate the development and industry of the new drugs manufactured by the company.
Pudong, which celebrated 30 years in 2020, remains a major engine for opening in Shanghai. On Monday, the new district launched 15 projects with a total investment of 84.8 billion Yuan, according to officials.
“Pudong actively leads the development of key industries and effectively attracts investment for high-quality projects, to ensure high-quality development in the city and the country,” Hang Yingwei said, director of the New Pudong District.
The new district administration has earmarked 4.94 billion Yuan for the renovation of a major road project – Yanggao Road, to reduce traffic in the region, as part of ongoing efforts to improve infrastructure facilities and increase efficiency, Yao Kai said. an officer of the New Pudong District.
The project will be sustainable, understandable, as well as environmentally friendly, Yao said.
Hudong-Zhonghua Shipbuilding Co., a unit of China State Construction Company, broke ground for its new site on Changxing island on Monday. The first phase of the project will involve an investment of 8 billion Yuan to build a full floor area of 460,000 sq m including research and development facilities, workshops and docks. This will allow the shipbuilder to build six special vessels each year after the project is completed by the end of 2023.
The overall project, which involves an investment of 18 billion yuan, seeks to upgrade Hudong-Zhonghua’s shipbuilding to a world-class intelligent shipyard with advanced facilities, great operational efficiency and high standards of safety and stability, Chen said. Jianliang, chairman of Hudong-Zhonghua Longan Construction.
Sinopec Shanghai Petrochemical was another key enterprise that began work on its massive 3.5 billion Yuan carbon fiber project on Monday.
The project, which is due to be completed by 2024, will reduce China ‘s reliance on imports and a shortage of finishing supplies, according to Wu Haijun, chairman of Sinopec Shanghai Petrochemical.
“We are confident that this will be a unique project in Sinopec’s business renewal,” Wu said.
East China University of Political Science and Law said Monday that its 489 million yuan Songjiang campus expansion project is one of the largest infrastructure and investment projects in the Songjiang district of the city.
While retaining the classic style of the university’s existing buildings, the expansion project will also focus on modern interiors to meet today’s requirements for teaching and study, Guo said. Weilu, secretary of the East China University Party. Political Science and Law. Guo said the expansion project is about to be completed in three years.
The projects, launched Monday with a mix of State-owned, private and foreign-owned investments, are fueled by opportunities arising from China’s business transition and modernization, and will boost technology innovation efforts. town, officials said.