Shanghai unveils new policies, projects as major investment promotion conference kicks off

Shanghai on Tuesday announced a comprehensive package of policies aimed at further attracting and supporting enterprise investment.

The initiatives, unveiled at the annual Shanghai Global Investment Promotion Conference that opened on Tuesday, included the launch of a new intelligent manufacturing service platform and the identification of 10 key future-oriented industry chain "tracks", such as artificial intelligence (AI), biomedicine, and new energy.

The conference also witnessed the signing of agreements on 21 major investment projects, collectively valued at several hundred billion yuan, in the presence of senior city officials, including Mayor Gong Zheng.

Gong emphasized the city's strong commitment to promoting the "Invest in Shanghai" brand and fostering a market-oriented, law-based, and international first-class business environment during his speech at the opening ceremony.

Policies and deals to drive investment

Shanghai's 2025 key industry layout map, its development blueprint, was unveiled at the conference. It outlines 10 future-forward industry chain "tracks", including AI, integrated circuits (ICs), and new energy. Shanghai has already cultivated four industries with an output value exceeding 1 trillion yuan (US$137.7 billion) each – electronics, automotive, advanced manufacturing, and software and information services.

The conference also announced two 50-billion yuan funds dedicated to industrial transformation and the debut of the Shanghai Intelligent Manufacturing Space Cloud Chain Platform, an online platform connecting businesses and industrial space.

Additionally, the local government recognized its Top 10 Shanghai Global Investment Partners, including EY and HongShan, for their contributions in driving high-quality investment to the city

Agreements on a total of 21 major investment projects, each valued at more than 1 billion yuan, were signed on-site, spanning sectors such as advanced materials, ICs, high-end equipment, biomedicine, and green low-carbon initiatives.

Business leaders echo confidence

Judy Marks, chairwoman, CEO, and president of Otis, expressed the United States elevator maker's commitment to growing alongside Shanghai's development.

With over a century of history in the city and its regional headquarters established in 2003, Otis will further strengthen its AI research and development efforts at its Shanghai-based global research center, said Marks.

Li Shufu, chairman of Geely, hailed Shanghai as the "accelerator" driving the Chinese automaker's technological transformation and globalization.

Anny Zhang, CEO of JLL China, remarked, "Shanghai's commitment to high-level openness has solidified its position as a global investment hub."

Since joining the city's Global Investment Promotion Partners Program in 2022, JLL, a global property and investment management company, has supported numerous leading international firms in establishing a presence in Shanghai, contributing to the city's ambition to be a global leader in innovation, consumption, and shipping, Zhang pointed out.

Spotlight on Invest in Shanghai Week

A series of events are scheduled throughout the week as part of the "Invest in Shanghai Week", including an "Investment Shanghai Lounge" on the 84th floor of Shanghai Tower, designed to facilitate connections and collaborations between government and business leaders.

Further events include three closed-door roundtable discussions focusing on private, foreign, and state-owned enterprises, along with numerous matchmaking sessions.

The conference will also recognize 10 outstanding "Global Investment Partners" for their crucial role in attracting high-quality investment to Shanghai.

This marks the fifth consecutive year that Shanghai has hosted this investment promotion event. Over the past four years, the city has attracted over 580 projects with a total value exceeding 1.1 trillion yuan.