R&D clusters boosting Songjiang's innovation
As the innovative source of the Yangtze River Delta region, Songjiang G60 Science and Technology Innovation Corridor has continuously strengthened its "magnetic appeal" with a first-class business environment which has accelerated the clustering of a large number of foreign-funded research and development centers with international competitiveness.
As of the end of May this year, Songjiang had approved 63 foreign-invested R&D centers, accounting for approximately 10 percent of the total in Shanghai.
Eight foreign-funded R&D centers settled in the district in the first five months this year, which is on par with the total for the entire year of 2020. Songjiang's global innovation resource allocation capability continues to grow.
Songjiang is one of the earliest districts in Shanghai to attract foreign investment. In recent years, driven by the national strategic platform of the G60 Science and Technology Innovation Corridor in the Yangtze River Delta, Songjiang is accelerating the creation of a world-class science and technology innovation ecosystem and building world-class industrial clusters.
The district's fertile ground for innovation has attracted a large number of foreign innovative resources.
These foreign-funded R&D centers include well-known Fortune 500 comapanies, such as ZF, Honda, Hyundai Mobis, Quanta and Emerson, according to the officials in charge of the district's foreign-funded science and technology innovation department.
In the first five months of this year, the district attracted foreign investment totaling US$1.21 billion, a year-on-year increase of 14 percent.