Master plan to turn Lingang into a key hub
Lingang will become a key fundamental for innovative coordination between domestic and overseas talent, a major hub of onshore and offshore business, a stepping stone for domestic enterprises to go global, a corridor linking domestic and overseas markets and a test ground to help the country take part in international economic governance, according to a draft master plan for the use of Lingang’s land, waters and airspace in the next 15 years.
The plan is available online for public feedback.
In line with the plan, Lingang is to establish its core competency in the allocation of high-end resources globally, become a special economic functional zone with a strong influence in the international market and competitiveness by 2035.
The special area of the China (Shanghai) Free Trade Zone will integrate into economic globalization at that time and become a top-tier seaside town, the plan says.
An open and innovative global hub, Lingang will house over a third of the regional headquarters of multinational conglomerates based in Shanghai.
The ratio of international trade and service trade will be higher than the city’s average while R&D expenditure will account for 8 percent of Lingang’s GDP, it says.
The port town on the East China Sea will be 15 minutes from Pudong International Airport and an hour from Hongqiao International Airport. Containers transferred there will account for 20 percent of the total.
The planned construction land will reach 292 square kilometers, according to the plan.
More than 2.5 million people will live in the smart town. Around 85 percent of local transport will go green while parks and green spaces will be 300 meters away from anywhere in Lingang. The average green space per person will be 15 square meters. Additionally, it will attract 5 million visitors every year, according to the plan.