Shanghai has announced a slew of new investments worth RMB 70 billion ($10 billion) in hi-tech industries ranging from chips to artificial intelligence and aviation, reports the South China Morning Post. Shanghai is the latest Chinese city to unveil ambitious plans to boost local innovation amid an intensifying US-China tech race.
The city’s Pudong district unveiled 50 big-ticket projects on Monday, with most of the investment earmarked to flow into key industries including microchips, AI, biopharmaceuticals, smart vehicles and aviation, among others. The exact funding sources for the projects have not been specified.
Shanghai is just the latest Chinese city to launch a tech investment spree going into the new year, as local officials across the country heed Beijing’s call to double down on developing self-sufficiency in core technologies as they map out their priorities for 2026 and beyond.