Deals worth over USS$5.5b inked in Chongming

Eleven major projects with a total investment of 5.5 billion yuan (US$804 million) were signed in a parallel session of the Global Investment Promotion Season in Chongming on Monday amid the island district's efforts to create a sound business environment and explore new growth engine for industrial development.

Chongming District government signed strategic cooperation framework agreements with the municipal sports bureau, Shanghai Electric Power, Shanghai Yidian, China Telecom Shanghai branch, China Mobile Shanghai Co Ltd, China Unicom Shanghai branch and China Tower Shanghai branch.

The projects mainly involve smart manufacturing, energy conservation and environmental protection, supply chain, cultural creativity, 5G application and other fields.

"Chongming will make every effort to seize the opportunity and actively promote the diversified transformation of ecological value and the accelerated development of ecological industry," said Li Jun, director of Chongming.

Sixty-seven projects in the district were listed as major projects, with a total investment of over 51 billion yuan, which will inject new impetus into the construction of Chongming World-class Ecological Island, according to the Chongming government.

At present, Chongming is making best use of major strategies such as integrated development of the Yangtze River Delta region, rural revitalization, marine power, green development of the Yangtze River Economic Belt, and "dual carbon" goals (the gradual withdrawal of traditional energy systems and their replacement by new energy).

In accordance with the "2+3+n" ecological industry framework system, Chongming focuses on the two leading industries – modern green agriculture and marine equipment – as well as emerging economies such as digital economy, floral industry and traditional Chinese medicine.