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.
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.

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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.

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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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