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Lingang may lure US$16.1b in FAI
By Richard Fu |
March 1, 2013, Friday
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Print Edition
Print Edition
SHANGHAI'S booming harbor town of Lingang expects to draw 100 billion yuan (US$16.1 billion) in fixed-asset investment over the next three years as the city government yesterday unveiled policies to support its development.
Some of the preferential measures, including fiscal support to lower land costs and simplified administrative approval for easier entry-exit for both qualified Lingang-based Chinese and expats, aim to turn Lingang into Shanghai's future growth engine boasting strategic industries such as advanced equipment making and logistics. It already is home to Shanghai Electric, Sany Heavy Industry, Siemens and Maersk.
The 315-square-kilometer Lingang, situated on Shanghai's southeast coast, provides a "strategic space" for the city to transform its growth model to an innovative-driven one, said Xiao Lin, vice director of the Shanghai Development and Reform Commission, yesterday.
The city is also giving extra points for non-local talents who work and live in Lingang when they apply for a Shanghai permanent residence permit. Certain talents that are "urgently needed" by Lingang could obtain the residence permit immediately under the measures.
Lingang, which consists of Lingang New City and neighboring industrial manufacturing and logistics zones, expects another 180 billion yuan in FAI over the next five years, when the total permanent population will hit 400,000, Pudong Vice Governor Zhu Jiajun said.
Forty-six investment projects worth over 21 billion yuan were signed yesterday, including aeronautics firm Aritex which will assemble wing parts for China's domestically developed C919 passenger jet.
The Metro Line 16 will link Lingang with the central part of Shanghai later this year.
Some of the preferential measures, including fiscal support to lower land costs and simplified administrative approval for easier entry-exit for both qualified Lingang-based Chinese and expats, aim to turn Lingang into Shanghai's future growth engine boasting strategic industries such as advanced equipment making and logistics. It already is home to Shanghai Electric, Sany Heavy Industry, Siemens and Maersk.
The 315-square-kilometer Lingang, situated on Shanghai's southeast coast, provides a "strategic space" for the city to transform its growth model to an innovative-driven one, said Xiao Lin, vice director of the Shanghai Development and Reform Commission, yesterday.
The city is also giving extra points for non-local talents who work and live in Lingang when they apply for a Shanghai permanent residence permit. Certain talents that are "urgently needed" by Lingang could obtain the residence permit immediately under the measures.
Lingang, which consists of Lingang New City and neighboring industrial manufacturing and logistics zones, expects another 180 billion yuan in FAI over the next five years, when the total permanent population will hit 400,000, Pudong Vice Governor Zhu Jiajun said.
Forty-six investment projects worth over 21 billion yuan were signed yesterday, including aeronautics firm Aritex which will assemble wing parts for China's domestically developed C919 passenger jet.
The Metro Line 16 will link Lingang with the central part of Shanghai later this year.
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