New park to attract more capital
Print Edition
Hongqiao Town in Minhang has begun work on a 鈥渃apital hub鈥 as part of industrial restructuring efforts.
It鈥檚 one of several industrial parks in the planning. The new hub aims to replicate the success of the Silicon Valley in California, the tech capital of the US.
Construction is expected to be completed next year. The hub is designed to attract more than 100 venture capital firms.
SummitView Electronic Investment LP, Cenova Ventures and Shanghai Venture Capital Association are among the early companies signing up for a slot in the hub.
The new hub is located on Hongmei Road in the core of the Hongqiao Business District.
Shanghai Venture Capital Co is in charge of managing the hub. The company is one of China鈥檚 largest venture capital firms. It invests in innovative and emerging industries.
On the other side of the district, Maqiao Town is also playing a role in industrial restructuring. The district has pledged to accelerate the development of the town as an integrated site of technology, public service and urban management.
The town is building an artificial intelligence industry base in conjunction with Beijing Liando Investment Group Co.
The center will comprise two industry parks, one focusing on artificial intelligence and the other on e-health, which is aimed at introducing electronic record management, smart home services and connected medical devices in the healthcare system.
It is optimistic about the future, expecting the two parks to achieve annual output value of 800 million yuan (US$115.8 million) when construction is finished.
The industry park is located near the Shanghai Institute of Power Sources, the Shanghai Institute of Satellite Equipment and Shanghai Jiao Tong University.
Liando Investment is the biggest industry park operator in China. The park is expected to host about 100 technology companies.
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