Output of new town estimated to reach 1 trillion yuan by 2025

Jiading New Town’s total output is expected to reach 1 trillion yuan (US$154 billion) in the next five years, with advanced manufacturing generating 350 billion yuan and the rest from trade, commerce and services, according to its development strategy.

Lu Fangzhou, Party secretary of Jiading District, said at the annual investment promotion conference earlier this month that to build a new modern city, development of the new town would be an important strategy in enhancing the city’s functions and core competitiveness.

He also said Jiading would play an important role in building a national pilot area of intelligent transport, a high-quality life, a new living way through unmanned vehicles and intelligent travel and an important demonstration area for the integration of production, life and ecology.

Ninety-three projects worth 25 billion yuan were signed during the event. The projects mainly focus on automobile, smart manufacturing, biomedicine, online economy, digital transformation and financial services.

They will gather high-quality resources for the new round of construction and development of Jiading New Town.

Last year, the regional economy of Jiading maintained a steady and healthy development.

In January, the district attracted more than 3,200 businesses, with a year-on-year growth of 75 percent.

It is estimated that the output value of enterprises with their annual income exceeding 20 million yuan will reach 110 billion yuan, with a year-on-year growth of more than 30 percent in the first quarter.