Green strategy paying dividends
Print Edition
Fast-paced and densely-populated, Shanghai is often seen as a megacity made of concrete and steel. However, beyond the concrete jungle, it is also an environmentally friendly city, with a focus on green community and sustainable development.
Since 2017, the city’s investment on environmental protection has exceeded 230 billion yuan (US$32.7 billion), and its green sector accounts for at least 3 percent of the city’s GDP.
Going green has created increasing business opportunities for Shanghai. In the first half of this year, foreign-investment projects launched in Shanghai witnessed a year-on-year increase of 49.2 percent.
The contract value of foreign investment grew 6.3 percent and the actual foreign investment value increased 13.9 percent.
By the end of June, nearly 700 multinational companies had moved their regional headquarters to Shanghai. The city is home to more than 400 foreign-invested innovation centers and more than 200,000 working foreigners — nearly a quarter of the nation’s total.
Last year, Tesla launched the company’s first overseas Gigafactory — at a cost of US$5 billion — in the coastal Lingang area, the city’s smart manufacturing base in the Pudong New Area. It is the largest foreign manufacturing project yet built in Shanghai.
Shanghai has gained recognition from business for its commitment to going green. However, it’s not an easy task.
Compared with other cities, Shanghai with limited land and an increasing population faces tougher environmental challenges.
The city is carrying out structural readjustment by reducing its reliance on smokestack and labor-intensive industries.
Chongming is China’s third largest island and accounts for nearly one-fifth of Shanghai’s land area.
With its plan to become a world-class ecological island, Chongming aims to keep its population limited to 700,000, and to strictly control commercial development.
“Chongming has become a brand and symbol for high-quality food,” said Wang Tingfeng, in charge of the Jingjie agricultural company.
And the city is also working closely with neighboring Jiangsu, Anhui and Zhejiang provinces on green projects.
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