Innovative industries eyed
Print Edition
SHANGHAI aims to put in place 1,000 innovative industrial projects as it pushes industrial development as key to help the city transform its economy.
The projects include 300 independently developed high-end facilities, 300 information technology projects, 200 applications of new materials and 200 plans to improve supply of consumption goods, Chen Mingbo, director of the Shanghai Commission of Economy and Information Technology, said at a news conference yesterday.
The added value of Shanghai’s manufacturing industry is expected to account for at least 25 percent of the city’s gross domestic production by the end of China’s 13th Five-Year (2016-2020) Plan period.
Advanced manufacturing industries are needed to support Shanghai’s industrial development.
Another 100 intelligent factories and digital plants are planned as part of the city’s drive to digitalize and automate around 1,000 enterprises.
“The blueprint was decided based on the current situation of Shanghai’s development,” Chen said. “Only by upgrading the manufacturing industry can we enhance the city’s competitive advantages.”
Premises of state-owned firms which suffer overcapacity problems will be given to innovative startups. In the next five years, the city expects to overhaul 50 major industrial districts.
To help achieve the goals, the city government will reduce tax and provide industrial funds to enterprises.
Shanghai will also expand industrial land by allowing up to 20 percent of suburban areas to be used for industries.
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