Major projects mark start of five-year plan
Shanghai launched a batch of major projects on the first working day of 2021, marking the start of the city’s 14th Five Year Plan (2021-2025).
A total of 64 major projects were announced, with an overall investment exceeding 270 billion yuan (US$41.62 billion).
These large scale, high capacity projects with great potential are aimed at boosting the new “dual-circulation” development pattern and economic growth during the 14th FYP period, according to city authorities.
The Pudong New Area, a pioneer in Shanghai’s reform and opening up, has launched 15 projects with an overall value of 84.8 billion yuan, said Pudong Director Hang Yingwei.
Pudong will give full play to the role of leading industries and effective investment, promote high-quality project construction and take it as a driving force for the high-quality development of the area, Hang said.
The major projects under construction cover a wide range, including those in the three key industries of the city — integrated circuits, biomedicine and artificial intelligence.
Shanghai Zing Semiconductor Corporation, for instance, is setting up the research and development and production lines of 300mm high-end silicon chips for 300,000 pieces of integrated circuits.
Shanghai Pharmaceutical Group, meanwhile, has invested 7.5 billion yuan in Pudong to build a platform for innovative incubation services and industrialization of biomedicine, with a view to boosting the development of the city’s biomedicine industry.
Efforts will also be made to promote the construction of the “five centers,” with high-end projects in the industrial chains of fields such as science and innovation, finance, and trade.
The city will also attach greater importance to projects related to new infrastructure and new urbanization initiatives and major projects, aiming to integrate the development of manufacturing and services, thus speeding up industry transformation.
Last year, in the face of the COVID-19 outbreak, Shanghai made overall plans to advance the prevention and control of the pandemic and economic and social development, and took the lead in resuming work and production.
From January to November 2020, the city saw its fixed asset investment rising 10.7 percent year on year, among which FAI in industry jumped 15.2 percent.
Industrial investment in the manufacturing sector surged 19.3 percent in the 11 months, which had maintained two-digit growth for 12 consecutive seasons, or 33 months in a row.
The value-added industrial output of enterprises above a designated size in the city, meanwhile, also posted positive monthly growth for eight consecutive months since April.
The city highlighted the signing activity of major projects on March 31, 2020, at which 152 major projects were inked with investment volume reaching 441.8 billion yuan in general.
During the third China International Import Expo, the city’s authorities held over 50 activities to promote investment, offering matchmaking services for exhibitors. A total of 134 projects worth US$6.2 billion were signed and put into construction, and 429 enterprises were found to have an intention to invest in the city.
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