Jinshan's industrial transformation fuels city development
Shanghai, a well-established destination for investment from home and abroad, is confident to ride the waves of a rising city to attract more quality investment with better policies and services.
The industrial development of Jinshan District is on a fast track with a new blueprint mapped out to fuel its transformation into a new engine powering the development of the city's southern section.
Based on the south-north transformation blueprint unveiled by the city government, Baoshan and Jinshan districts in the city's north and south, respectively, will contribute more than 20 percent of the city's gross industrial output by 2025.
The two districts will foster strategic new industry clusters for new materials, biomedicine, intelligent equipment and information technologies, and a city-level special promotion fund will be allocated for these segments.
The Jinshan Industrial Park was renamed Shanghai Bay Area High-tech Industrial Development Zone on Tuesday and released its development strategy.
The development zone is cultivating industrial clusters focused on the development of leading industries, such as high-end equipment, new-generation information technology and biomedicine.
The development of a biomedicine harbor and the east China unmanned aerial vehicle base inside the zone is in full swing, and the industrial output value of the three key industries, namely high-end equipment, new-generation information technology and biomedicine, has accounted for more than 80 percent of the total industrial output value of the zone.
The development zone is home to 86 high-tech and 64 emerging-industry companies.
"As the youngest municipal-level industrial zone in Shanghai, it is applying an innovation approach to empower high-quality development and spur the innovative vitality of companies, thus promoting the leap-forward upgrade of the zone," said Shen Guozhong, deputy director of the development zone's management committee.
Despite the impact of the COVID-19 resurgence, several projects with a total investment of 8 billion yuan (US$1.18 billion) were signed in the zone in the first half of this year, and 21 were signed last year with combined investment of more than 11.7 billion yuan.
"In fact, more than 50 projects are turned down by us every year, and these signed projects were carefully selected based on the industrial positioning of the zone," said Peng Xijun, deputy Party secretary of Shanghai Xinjinshan Industrial Investment Development Co. "Quantity is what we are pursuing, but quality is."
In terms of intelligent equipment, the zone has nearly 100 high-end manufacturing companies in a variety of areas, such as auto parts, 3D printing, unmanned aerial vehicle manufacturing and applications, and communication devices.
M-Fine, a science and technology company in the zone's chip industrial chain, was recently awarded a contract worth more than 80 million yuan from a semiconductor company in Kunshan, Jiangsu Province.
"A display industry cluster is being formed in the zone, which has provided fertile soil for our innovation and development as a part of the industrial chain," said Ge Chunhua, deputy general manager of M-Fine.