$1.55-bln projects inked at Shanghai FTZ new section
The Lingang Area of the China (Shanghai) Pilot Free Trade Zone (FTZ) attracted 23 projects with a total pledged investment of 11 billion yuan (1.55 billion U.S. dollars), it was known on Thursday.
The inked deals focus on Lingang's such key development fields as integrated circuits, AI, biomedicine, civil aviation, new energy vehicles and equipment manufacturing.
Meanwhile, construction started Thursday on three projects - a gas turbine development project, a high-end manufacturing park and a new energy auto parts park.
After early negotiations, the Lingang Area may succeed in attracting 70 more projects with a combined investment of nearly 100 billion yuan, according to Zhu Zhisong, party chief of the administration committee for Lingang Area.
The Lingang Area of the China (Shanghai) FTZ was officially launched in August. It will match those most competitive free trade zones worldwide in terms of standards and will facilitate overseas investment and capital flows and realize the free flow of goods.