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Shanghai Pudong at the forefront of China’s reform and opening-up

2020-11-13 12:30:57 Xinhua News Agency

This year marks the 30th anniversary of China’s announcement that it would develop and open up Shanghai’s Pudong.

As of Oct. 30, a total of 191 companies had listed on the board with a combined market value of more than 2.9 trillion yuan.

-- The "AIsland" of the Zhangjiang Science City in Pudong, an AI cluster for major AI players and start-ups, is expected to attract over 100 companies and more than 7,000 researchers by the end of 2020.

-- Zhangjiang Pharma Valley, a state-level bio-medicine industrial base located in Pudong, produces 15 percent of China's original drugs and 10 percent of the country's innovative medical devices.

-- The integrated circuit sector, one of the major innovative industries in Pudong, saw its size exceed 120 billion yuan in 2019, which accounted for 16.1 percent of the country's total.

-- The China (Shanghai) Pilot Free Trade Zone (FTZ), the first pilot FTZ in the country, was established in Pudong in August 2013. A total of 328 institutional innovations rolled out there have since been replicated and promoted nationwide.

The Lingang area, a new section of the Shanghai pilot FTZ, attracted 20.23 billion yuan of industrial investment in the first three quarters of this year, surging 52.2 percent year on year.

-- U.S. electric car company Tesla in 2019 built its first Gigafactory outside the United States in the new Lingang area, with a designed annual production capacity of 500,000 units. The Tesla Shanghai Gigafactory broke ground in early 2019 and delivered its first batch of made-in-China Model 3 sedans one year later.

-- Pudong will pilot the "one integrated license" system in 31 areas including e-commerce, construction projects, convenience stores, cafeterias, cinemas, gyms and book stores, to integrate the multiple licenses previously required into one for market access, according to the State Council's latest executive meeting.