Lingang to focus on seven key industries

The Lingang Special Area of the China (Shanghai) Pilot Free Trade Zone released its industrial map presenting the layout of the key industries in the zone on Thursday, the hundredth day since its launch.

Seven projects involving a total investment of 15 billion yuan ($2.13 billion) in the special area were also signed.

According to the map, the area will generally focus on seven industries, covering integrated circuits, artificial intelligence, biomedicine, aerospace, new energy vehicles, equipment manufacturing, and green remanufacturing.

The zone is also focusing on the development of five modern services, namely international trade, cross-border financial services, shipping services, information services, and scientific and technological innovation services.

"The map presents enterprises with the industrial development orientation and the overall layout of the area," said Chen Yi, director of investment management department at Shanghai Lingang Industrial Area Economic Development Co.

"It will benefit the supervision of the industrial development in the region, and help to provide more accurate guidance for companies as well," said Chen.

According to the map, the layout of the enterprises in different industries is classified into eight regions in the area.

For example, the frontier industrial zone will gather enterprises in integrated circuits, smart new energy vehicles, high-end equipment manufacturing, green remanufacturing, technology and aerospace.

Companies related to cross-border financial services, international trade and international medical services will be in the zone for the modern services industry.

"The plan will demonstrate that the Lingang Special Area is not merely a simple expansion of Shanghai Free Trade Zone, but promotes all-round services, and it will influence the development of the Yangtze River Delta economic zone," said Chen.

The release ceremony on Thursday also saw the establishment of an investment promotion and service center at the area.

According to Chen, the center will guide enterprises to understand the advantages of the Lingang New Area, illustrate policies, and help in the procedure during and after the launch of the enterprises in the area.

Covering an area of 119.5 square kilometer, the Lingang area will be set up to the south of Dazhi River, east of Jinhui Port, and south of Xiaoyangshan Island and Pudong International Airport in Shanghai.

By 2025, the area plans to have a relatively mature institutional system of investment and trade liberalization and facilitation. By 2035, it will be built into a special economic function zone with strong global market influence and competitiveness, becoming an important platform for the country to integrate economic globalization.

More than 90 projects have been agreed and are planned to launch in the area. The first batch of 23 key projects in Lingang New Area were agreed and started on Sept 12, with a total investment of more than 11 billion yuan.

The past 100 days have seen a series of favorable policies released to boost talent attraction, financial support and industry innovation.

The latest were 48 supportive policies issued by the Lingang administrative committee on Nov 20 to offer preferential policies including housing subsidies for talented staff to live and work in the area.

In order to enhance the capacity of scientific and technological innovation and industrial integration, 56 favorable measures have been released last month. Among them were 10 supportive policies for four industries including integrated circuits, artificial intelligence, aerospace and biomedicine.