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October 17, 2019

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Pudong lays out new plan for sci-tech

The Pudong New Area issued 15 policies yesterday to boost the development of its science and technology industries, including more access to process applications by high-tech enterprises, a national-level laboratory in Zhangjiang and open roads in Jinqiao Town to test driverless vehicles.

The policies will mainly focus on the area’s core industries — chips, medicine, intelligent manufacturing, automobiles, big data and aviation.

One policy offers companies or projects making outstanding breakthroughs a bonus of up to 50 million yuan (US$7 million).

Tang Shiqing, the head of the Pudong Science and Economy Committee, said the raft of new policies will give the area more power to help its industrial transformation, converging resources as well as creating a better business environment.

“It has long been an issue for many companies when they apply for land,” said Tang. “But in the future, we will offer more convenience to companies with good projects to help them achieve their goals.”

Meanwhile, the Shanghai government is also empowering Pudong’s development.

The People’s Bank of China said it will simplify the process of cross-border yuan trade settlement for companies in Pudong so that more foreign investment find it easier to do business in the area.

The city’s economy and information commission will cooperate with the area to help more firms to list on the STAR board and help with infrastructure construction, and the science commission signed an agreement with Pudong on developing research institutions and high-tech firms.


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