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Shanghai industrial investment up significantly

2019-01-28 08:49

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Shanghai's industrial investment increased by 17.7 percent in 2018, the greatest growth rate the city has seen during the past decade.

According to the government work report delivered at the annual session of the municipal people's congress on Sunday, the city has been endeavoring to boost its real economy.

Last year, Shanghai recorded around a 10 percent growth rate in the output of emerging industries including new energy cars, high-end medical equipment, integrated circuits and biomedicine.

The city started construction of five industrial projects with an investment of over 10 billion yuan (1.48 billion U. S. dollars) each, and 15 projects with an investment of over 1 billion yuan each last year.

A total of 1,460 energy-intensive, high-pollution, highly dangerous and low-efficiency production projects and facilities were removed from the city.

In 2019, Shanghai will further upgrade its real economy and come up with supporting policies for industries including integrated circuits, artificial intelligence and biomedicine.

The city will push ahead with industrial innovation projects such as intelligent connected vehicles, and it expects to see the mass production of 14 nanometer-integrated circuits this year. Some biotechnology, robotics and semiconductor programs also will start construction.

A total of 1,000 outdated production projects and facilities will be eliminated.
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