Investment promoted in Shanghai's Songjiang New City

Songjiang New City, one of the five "new cities" located in the suburbs of Shanghai, will strive to build industrial clusters of emerging sectors over the next five years as part of efforts to drive the high-quality development of the Yangtze River Delta region, according to a promotional conference on April 22.

The conference, focusing on the 14th Five-Year Plan (2021-25) and investment opportunities in Songjiang, was organized by the Shanghai Foreign Investment Development Board, also known as Invest Shanghai, and aimed to present the industrial advantages, investment policies and market opportunities in the five new cities.

Located in the southwest of Shanghai, Songjiang is positioned to become a high-tech innovation hub in the region and an important part of the G60 Science and Technology Innovation Valley in the Yangtze River Delta region, an alliance of nine major cities in the region dedicated to promoting infrastructure construction and creating a better business environment.

With help from the G60 Science and Technology Innovation Valley, Songjiang will develop industrial clusters of emerging sectors such as new-generation electronic information, new materials, new-energy vehicles and bio-medicine, said Liu Fusheng, deputy head of Songjiang district.

Li Hong, deputy-director of the Shanghai Municipal Commission of Commerce, said that Shanghai, a leader in China's efforts to open up, has been a magnet for foreign investment.