Shanghai releases new blueprint to support high-end manufacturing

Shanghai has released a blueprint with measures to promote the development of high-end manufacturing, covering the biomedicine, integrated circuit, automotive and industrial sectors.

It will help boost the city's digital transformation and related consumption and achieve green and low-carbon targets.

The blueprint, with 25 measures, covers supporting policies on land, capital, market development and talent, according to a statement released by the Shanghai government on Tuesday.

State-owned enterprises and land owners are encouraged to offer standard manufacturing and research facilities for high-tech firms, at favorable prices. During the 14th Five-Year Plan period until 2025, Shanghai will construct a total of 20,000 apartments for employees working in high-tech industrial parks.

On capital support, innovation projects on artificial intelligence, 5G and industrial Internet will get opportunities to earn rewards of up to 8 million yuan (US$1.11 million). Also, digital transformation projects, with investment of over 10 million yuan, can avail of related subsidies.

Industrial giants, meanwhile, can win rewards when their annual industry output hits 1 billion yuan, 5 billion yuan or 10 billion yuan, respectively, for the first time.

Shanghai also supports the development of innovative medicine and pharmaceutical devices. For Class-I innovative drugs, local register applicants may have supporting capital of no more than 30 percent of the research investment or a maximum of 20 million yuan.

Shanghai has designated AI, IC and biomedicine as three strategic industries in its long-term development blueprint.

Also in the new blueprint, green and low-carbon projects are eligible for subsidies of up to 10 million yuan each.

The measures will likely boost automotive, green and smart consumption in Shanghai, bringing it in line with the aim of the China International Import Expo to boost consumption.