Songjiang’s fund to go high-tech
Print Edition
SHANGHAI’S Songjiang district government will use a newly created annual fund of 2 billion yuan (US$305 million) to develop advanced manufacturing and high-tech industries.
More than 100 firms in Songjiang will be listed or do preparation work toward initial public offering on domestic exchanges by 2020, using the capital in the fund and tapping government’s policies to back innovation, said Chen Yujian, vice head of the district.
“Innovation is a catalyst to boost the economy and push upgrading of industrial structure” in Songjiang, Chen said yesterday.
Songjiang, sited in Shanghai’s southwest, will develop six strategic industries — smart security, robot, new energy, new material, bio-medicine and energy-saving.
Songjiang will continue developing manufacturing into a high added value and innovative sector. The six strategic industries are set to account for 15 percent of the district’s total gross domestic product in 2020, triple the current level.
Shanghai’s other high-tech zones are located in Zhangjiang in the Pudong New Area and Yangpu District.
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