Shanghai Lingang Continues to Grow and Achieve Apace
EFEC is well-connected with Lingang, Shanghai – the focus for much that is about the future of the Chinese economy. We helped set up The Lingang Cambridge Network in 2019, and continue to develop partnerships for growth between China and the UK with a particular focus on the opportunities of Lingang.
This August marks the 4th anniversary of the establishment of the Lingang New Area. In the past four years, the Lingang New Area has accelerated the gathering of cutting-edge industries, explored high-level opening up, and the construction of a modern new city has continued to leap forward.
The Shanghai government now plans yet greater efforts to carry out independent reforms and higher-level opening up to the outside world.
Recently, the opening ceremony of key industrial projects was held in the Lingang New Area. The 12 newly started projects have a total investment of 28.8 billion yuan, covering cutting-edge industries such as integrated circuits, artificial intelligence, and new materials.
Among them, JCET’s technology projects cover sensors, memory chips, power devices and other fields, and can provide global users with product packaging and testing services for automotive semiconductors.
The latest data shows that the annual output value of Lingang’s new energy vehicle industry has exceeded 230 billion yuan. Walking into Tesla’s Shanghai Gigafactory, accompanied by a flying robotic arm, it takes less than 40 seconds to roll off a complete vehicle on average. It has also become one of Tesla’s most efficient factories in the world.
Thanks to the solid industrial foundation and continuous improvement of the industrial ecology, Lingang New Area has grown over the past four years: GDP up by an average of 21.2% per year, and the total industrial output value has increased by 37.8%. The average annual growth rate of investment in fixed assets was 39.9%.
Going green is a key driver. “The price of green remanufactured computers is only one-third to one-fifth of the new machine.” Wang Wenxi, general manager of Puqing Electronics, said. Green remanufacturing can reduce carbon emissions, and provide low- and middle-income families with affordable electronic products.
New freedoms for business and new systems for management support the growth, as does transport. Lingang New Area is now connected by highway to Pudong Airport, a journey of just 15 minutes. Hongqiao Airport is 60 minutes away.
The Lingang New Area is a young city, and it is a city for young people. In the past four years, the Lingang New Area has introduced a total of about 58,000 young talents.
The new round of support policies focuses on three key words: special, economic, and functional. In the future, the Lingang New Area will be given greater resource element supply and reform autonomy to help Lin-gang Hong Kong will become the “growth pole” and “power source” of Shanghai’s development.
{Source: Xinhua News Agency}