Shanghai released the new policies on 18th May 2020 to facilitate the construction of industrial parks, covers the industrial planning, industrial land utilization, financial support and enhanced government services. Shanghai Dongjin finds the main points as follows.

Shanghai has spared 108 square kilometers of space for the construction of 26 industrial parks.

The field of the online economy will be the city’s priority to attract investment and to increase support.

Digital infrastructure construction, covering 5G base stations, industrial Internet of Things, artificial intelligence, big data centers, intelligent connected vehicles and smart grid will also be enhanced.

It is encourage the associations, consulting firms, banks, insurance companies, funds, accounting firms, law firms and other institutions to take advantage of customer resources and the networks to participate in the investment promotion. These professional institutions and individuals who have successfully introduced high-quality projects may be rewarded accordingly in accordance with relevant regulations.

As for industrial land utilization, a favorable land leasing term of 50 years will be enjoyed by more enterprises, helping cut down land costs for enterprises of high quality.

Shanghai also plans to set up a leading industrial fund totaling 100 billion yuan on three major industries: integrated circuits, artificial intelligence and biomedicine.

Shanghai is also aiming to duplicate a batch of Tesla-like projects and develop new momentum industries such as online economy and to build some characteristic industrial parks. Environment impact assessment report may be exempted or simplified for the major projects. 

If you want to read the complete article, you can refer to the below link (in Chinese only): http://www1.shanghaiinvest.com/cn/viewfile.php?id=14857&from=singlemessage&isappinstalled=0    

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