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July 8, 2020

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Industrial projects break ground in Lingang area

Industrial projects, with a total investment of 48 billion yuan (US$6.83 billion), broke ground in the Lingang Special Area of the Shanghai free trade zone yesterday.

The 18 projects are in the fields of new energy, next-generation semiconductors, artificial intelligence, biomedicine, aerospace, new-energy vehicles, smart equipment, integrated circuits and Industrial Internet of Things

Shanghai Party Secretary Li Qiang and Acting Mayor Gong Zheng were present at the groundbreaking ceremony.

When production starts, they will play a supporting role in the industrial upgrade and transformation of domestic firms and help break through the innovation bottleneck that Chinese enterprises face.

Five projects focus on the R&D and manufacturing of next-generation semiconductors, including the Shanghai factory of GalaxyCore Inc.

With a total investment of 8.3 billion yuan, the wholly owned Shanghai subsidiary of the electronic components manufacturer and distributor will start manufacturing later this year with an expected output of 15 billion yuan a year.

At the same time, ACM Research Inc launched its R&D and manufacturing center project in Lingang which will help the company become an industry leader globally.

AI companies commencing their projects this time include SenseTime — the most valuable AI startup worldwide.

The SenseTime next-generation AI computing and empowerment platform will support the entire Yangtze River Delta region by providing AI computing services.

In the Fengxian part of the Lingang Special Area, an R&D and industrialization base for innovative biological drugs for diabetes will start operation in 2025, with annual sales of around 12 billion yuan and an annual tax contribution of no less than 1 billion yuan.

Not just the city’s Silicon Valley and Health Valley, Lingang is also home to Shanghai’s aircraft manufacturing.

The second stage project of Shanghai Aircraft Equipment Manufacturing kicked off construction yesterday to build overall solutions for large aircraft parts manufacturing, smart manufacturing and aircraft digital assembly production lines. The total project investment is planned to be 400 million yuan.




 

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