A fresh set of investment promotion policies announced, including a maximum reward of 100 million yuan for significant investment projects
Shanghai recorded a GDP of more than 4 trillion yuan for the past two consecutive years. At this point in time, a new round of measures promoting investment was launched, aimed at creating a strong magnet for investment, sending out powerful gravitational waves to the world and accelerating the agglomeration of top-tier resources and major projects.
These 24 new investment promotion policies are organized into three parts.
With respect to investment incentives, models and space, Shanghai should launch new tools for investment promotion policies; with respect to three leading industries (integrated circuits, biomedicine and artificial intelligence) and four new tracks (smart terminal, green and low-carbon, digital economy, Metaverse), specific investment promotion measures should be proposed to build up new ability to attract investment into key industries; with respect to city-level investment promotion planning, project services should be improved and a new mechanism for investment promotion should be developed.
——Implement a new plan of rewards granted upon project execution. The city will take real money out of pocket and provide a subsidy of up to 10 million yuan for purchasing or leasing property for headquartered projects and a maximum reward of 100 million yuan for significant investment projects. Loan and financial lease may apply leverage to investment. For capital increase and production expansion projects, subsidies for loan interest and financial lease may be granted to stimulate investment by businesses. Equipment financial lease projects may receive support of up to 20 million yuan.
——Strengthen synergy in investment promotion. Shanghai should make the most of its advantages in reform and opening-up, leading position, science and technology and talent pool. It should leverage the advantage of having a cluster of financial institutions, to integrate and utilize various industry investment funds with a total scale of 100 billion yuan, which will facilitate investment and financing channels for industries and enable investment to attract projects; leverage the advantage of having a cluster of science and technology innovation resources, seize the cooperation opportunities associated with "advanced technology + made in Shanghai + global market”, promote the model of "R&D in Shanghai + made in Shanghai", boost the conversion of results and execution of projects, and enable R&D to implement projects; leverage the advantage of having enterprises dominating the industrial chain of new energy vehicles and new materials, attract high-quality projects across the industrial chain, and enable the industrial chain to gather projects.
——Unveil "new space" of industry investment promotion. Shanghai will make available 8-million-sqm space to accommodate and boost three leading industries. To be more specific, 2-million-sqm space will be available for R&D and industrialization of the IC sector; "moderately future-proof" standard plants are envisaged for the biomedicine sector, and 5-million-sqm turnkey low-cost standard plants will be provided to biomedicine companies. 1-million-sqm space intended for the AI sector can reduce the cost of investment for businesses.
——Unfold "new scenarios" of investment promotion. By leveraging the rich application scenario resources available across the city, Shanghai plans to open 50 new scenarios of manufacturing, consumption and service to global investors, attract projects engaged in the development of big models, big data applications, big computing power development and accelerate the implementation of application scenario projects.
Tap into new opportunities of industry investment promotion and nurture new momentum
With focus on "three leading industries" and "four new tracks", the new investment promotion policies are aimed at attracting and gathering high-quality projects and nurturing emerging industrial clusters.
Shanghai pledges to provide incentives for top-tier projects in three leading industries, with a maximum support of up to 100 million yuan. Specifically, in the integrated circuit sector, Shanghai is China’s No. 1 in terms of the design and manufacturing scale and the focus will be on attracting investment in key links. Shanghai is home to a quarter of the country's talent pool and nearly a half of all key EDA companies and boasts a full-fledged industrial chain; in biomedicine, a quarter of China’s class-1 innovative drugs were produced in Shanghai over the last four years, and high-quality companies are encouraged to establish various types of headquarters, research and development centers, and production bases in Shanghai; while in artificial intelligence, Shanghai has put in place a nearly complete industrial ecosystem, including computing power, algorithms and data, and efforts will be made to accelerate the attraction of intelligent chip, core algorithms, operating systems and other projects, and to speed up the implementation of high-quality projects.
Among four new tracks, in smart terminal, Shanghai will bring in projects in new energy vehicles and intelligent connected vehicles (ICVs), intelligent robots and wearable devices. In green and low-carbon, efforts will be made to achieve carbon peak and neutrality goals and aim at clean energy, low-carbon raw materials, among six initiatives, and green and low-carbon businesses will be attracted and incubated. In digital economy, new technologies such as big data, cloud computing, Internet of Things and Block Chain, will be deeply applied to promote coordinated development of industry digitalization and digital industrialization, and projects with a high energy level as part of digital industrial clusters will be introduced. Metaverse is an important platform for the interaction between the virtual world and the real society in the future. Projects in 3D graphics, image engines and digital modeling will be attracted.
