Shanghai wants more high-end manufacturing companies to settle within its city limits. To enhance Shanghai’s competitiveness in advanced manufacturing, the city has launched a program to attract what it calls ‘smart industrial companies’.
Shanghai hopes to attract businesses in involved in robot-making, integrated circuit, 3D printing, intelligent equipment and health care equipment.
According to the Shanghai Daily, upgrading manufacturing and targeting strategic industrial investors is part of Shanghai’s draft of the 13th Five-Year (2016-2020) Plan.
Shanghai has its reasons to support manufacturing activities. In 2015, its manufacturing sector grew ‘only’ 1.2 percent, accounting for 31 percent of the total economy, while the service sector grew 10.6 percent. Contracted foreign direct investment surged 86.5 percent year on year with a 22.2 percent drop in the amount flowing into the manufacturing sector. There are close to 9,100 foreign-invested manufacturing companies in Shanghai.
Further reading on shanghaidaily.com
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