Shanghai Municipal Commission of Economy and Information has led the draft of Innovative Industrial Planning in Lin’gang New Area (the “Planning”) which is now going public.
According to this new Planning, an open industrial system with the cooperative development between frontier industries and modern services, and a more mature institutional system with liberalization and facilitation of investment and trade would be initially formed in Lin’gang New Area till the year of 2025. By 2035, the industrial construction shall be upgraded, competitiveness of key frontier industries shall be in the leading position in the world, modern services shall be highly developed, build the key functions with high-level global elements and resources, and eventually build a special economic area with strong global effectiveness and competiveness.
The main areas under the Planning include Fengxian District, Pudong New District and Minhang District, and it would continually link the development within Yangtze River Delta.
The key point of this international, open and modern industrial system is defined as “7+5+4”.
“7” means advanced manufacturing industrial clusters, includes frontier industries as integrated circuits, artificial intelligence, biomedicine, civil aviation, intelligent new energy vehicles, high-end equipment manufacturing and green remanufacturing as a “lighter”.
“5” means modern services, mainly develop high-level services in new international trades, cross-border financial services, modern shipping services, information services and professional services as a “server”.
“4” means innovative and open economy with the specialty like offshore economy, intelligent economy, blue economy and headquarters economy as an “accelerator”.
For those producing or R&D enterprises in the key fields or chains as integrated circuits, artificial intelligence, biomedicine, civil aviation and others, a profitable policy would be provided that enterprise income tax would be reduced by 15% within 5 years from the date of establishments. Also there would be various kinds of relative talent policies, and keep the security of landing personnel as the increase of 3 million to 4 million square meters of housing per year in the next three years.
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=15390
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Mr. Mike Chang
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