Boost for Shanghai's technology hub strategy

Central government-owned enterprises will be encouraged to set up projects to help the city's development as a technology and innovation center.
Boost for Shanghai's technology hub strategy
Ti Gong

China’s state assets management department has signed an agreement with the Shanghai government to encourage central government-owned enterprises to set up projects to support the city’s ambition to become a technology and innovation center.

The agreement involves new projects including smart manufacturing, biopharmaceuticals, new energy, and maritime engineering equipment,  they said in a statement on Tuesday.

The government and the department will also cooperate on research and development and financial support for One Belt, One Road initiatives.

The statement said several central government-owned enterprises have already signed deals with the Shanghai government to establish projects, but gave no details.

Boost for Shanghai's technology hub strategy
Ti Gong

Han Zheng, Party secretary of Shanghai, speaks at a conference on technology and innovation.

The participation of central government-owned enterprises will support Shanghai’s strategy and accelerate putting the results of technological innovation into production, said Han Zheng, the Party secretary of Shanghai.

Shanghai’s development as a technology and innovation center was a Party requirement and a state strategy, he said.

Boost for Shanghai's technology hub strategy
Ti Gong

Xiao Yaqing, director of the State Council's State-owned Assets Supervision and Administration Commission.

Xiao Yaqing, director of the State-owned Assets Supervision and Administration Commission of the State Council, said Shanghai’s conducive environment for innovation and development provided an ideal atmosphere for the government-owned businesses.

The enterprises should also use their resources to help Shanghai achieve its ambitious plan, Xiao said.

Shanghai last year won support from the State Council to become a global technology and innovation center by 2020.

The government in March outlined plans to build the Zhangjiang Comprehensive National Science Center, improve market-oriented mechanisms for the transfer and commercialization of scientific and technological achievements, and develop more policies to attract more international talent.

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