Headquarters park to attract more private companies for new town

Shanghai Federation of Industry and Commerce has signed an agreement with the Jiading government to set up Shanghai Private Economy Technology Innovation Headquarters Park in Jiading New Town.

Jiading is one of the five “new cities” in Shanghai with development and area advantages, according to Shou Ziqi, chairman of the Shanghai Federation of Industry and Commerce.

“We must increase the support and services for the Shanghai Private Economy Technology Innovation Headquarters Park, improve the level of development and demonstrate the level of cohesion development to attract more companies to the park and develop healthily here,” Shou said.

The park, with a land area of 6.77 square kilometers, will have three blocks near Yuanxiang Lake.

A batch of commercial complexes will be set up around the lake. Sculptures and installations will be built as well as a number of art, culture and innovation projects.

A hub for headquarters, research and development facilities and startups will be set up at the center of the area. Intelligent and innovative industries will be located along the Metro Line 11’s Jiading New Town station.

Shanghai Federation of Industry and Commerce will also provide support to service facilities including banks and private enterprise service centers.

Jiading has over 190,000 private companies, accounting for 95 percent of its registered companies and institutions.

The GDP of the district is expected to reach 360 billion yuan (US$55.38 billion) during the 14th Five-Year Plan period (2021-2025), and the investment in Jiading New City is slated to reach 250 billion yuan.

After the signing ceremony, entrepreneurs visited the new modular electric vehicle platform, known as MEB, at the SAIC Volkswagen factory, Shanghai Poly Grand Theater and Jiading Library.

Volkswagen began the production of its ID.4 X, the first electric model, last October, and its first plant dedicated to producing electric cars is based on a new MEB platform.

Shanghai’s automobile companies are making further progress in both the production and manufacturing of new-energy vehicles, because the country is actively promoting the development of the green car sector.