Shanghai aims to attract investments of RMB200 billion ($29.4 billion) into developing an advanced manufacturing industry.
The move to attract a higher investment amount signaled a fresh government effort to help the city’s core industry to maintain a rapid growth. The city is forecast to attract RMB140 billion worth of industrial investments this year.
The advanced manufacturing industry includes equipment manufacturing, electronic information, automobile, petrol-chemical and other strategic sectors like ship building, manufacturing of regional jets as well as solar, biomedical and aerospace.
Gao Yun, deputy director of Shanghai Economic and Information Technology Development Commission saod from the end of this year to the first quarter of next year, Shanghai-based companies will invest RMB100 billion in about 500 projects. He said another RMB100 billion would, hopefully, come from state-owned firms.
Source: Shanghai Daily