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First 23 projects worth $1.55b signed in Lingang

chinadaily.com.cn Updated:2019-09-16

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The signing ceremony for the first batch of 23 major projects in Lingang area of the China (Shanghai) Pilot Free Trade Zone is held in Shanghai on Sept 12. [Photo/ eastday.com]

The first 23 projects, worth over 110 billion yuan ($1.55 billion), were signed in Lingang area of the China (Shanghai) Pilot Free Trade Zone on Sept 12.

The deals focus on key development fields in the area, such as integrated circuits, artificial intelligence, biomedicine, civil aviation, new energy vehicles, and green manufacturing.

Lingang area became part of the China (Shanghai) Pilot Free Trade Zone in August, as part of an effort to facilitate overseas investment and realize the free flow of goods.

Zhu Zhisong, executive deputy director of Lingang area, said that high-end industrial projects and headquarter enterprises have been expanding their presence in Lingang since the unveiling of the new area.

Over 70 projects worth 100 billion yuan will be carried out in the area, said Zhu.

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Factory buildings in Lingang area, Shanghai on June 8, 2019. [Photo/IC]

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