82 key projects launched in Shanghai's Pudong area

Construction work on 82 key projects with a total investment of over CNY317.6 billion, and covering areas like high-end industries, scientific innovation, infrastructure and livelihood improvement, started in Shanghai’s Pudong New Area last week. The stress on technology will promote the high-quality development of Pudong, said Shanghai Mayor Gong Zheng. In August, Pudong’s local government announced that six industries – big data, new energy vehicles (NEVs), chip-making, smart manufacturing, biomedicine and civil aviation – will lead the development of advanced manufacturing industrial clusters during the 14th Five Year Plan period (2021-25). Since then, 23 projects have been launched with over CNY123.3 billion in investment. These projects will help Pudong strengthen its leading role in terms of high-end industries. A world-class industrial cluster will thus be built rapidly, said Wu Jincheng, Director of the Shanghai Municipal Commission of Economy and Informatization. Efforts should be made in Pudong to tap into new investment themes like low carbon and the metaverse. An intelligent terminal industrial park should be launched in Pudong so that the digital economy and the real economy can be more deeply integrated, he said.

Some 10 transportation projects also started construction work, involving CNY153 billion in investment. The fourth phase expansion of Shanghai Pudong International Airport figures among the 10 transport-related projects. Upon completion, the airport will be able to receive 130 million passengers annually by 2030. Zhu Zhisong, Party Secretary of the Pudong New Area, said during the launch ceremony that the commencement of the 82 projects on the first workday of 2022 demonstrates the municipal government’s confidence and determination to boost the city’s development via investment. For years, Pudong has adhered to the rule of advancing high-quality development via high-intensity investment. The area’s fixed asset investment has grown by 10% annually over the past two years, said Zhu. More investment will be directed to industrial upgrades, fine-tuning urban infrastructure, livelihood improvement, and ecological and environmental optimization this year. Total fixed asset investment in Pudong will surpass CNY300 billion this year, maintaining a double-digit annual growth rate, the China Daily reports.