Shanghai’s Jiading District is set to receive an investment of around 11.8 billion Yuan ($1.6 billion) to fund a total of 34 projects. 

These projects, which were unveiled at the 6th China International Import Expo, will comprise the so-called “new four modernisations” of automotives, namely electrification, the Internet of Things, intellectualisation and sharing, and smart manufacturing.

The initiatives will be part of Jiading’s ‘3+1’ industrial planning scheme, including the “new four modernisations” of the auto industry, high-performance medical equipment and precision medical industry, intelligent sensors and IoT, plus online new economy,” Shine News reports.

They will also benefit Jiading’s industrial development and boost the district’s future growth.

“Jiading District is focusing on main development areas such as North Hongqiao and Jiading New City to further attract overseas investment, and the commission will offer support to help more high-quality enterprises to settle or deepen their roots in Jiading to inject new vitality into its economic development,” said Zhang Ying, deputy director of the Shanghai Commission of Economy and Informatisation.

Since the launch of the global strategic partners scheme in 2022, aimed at enhancing investment channels in Jiading, over 20 organisations and institutions have been invited to become Jiading’s global strategic partners, making considerable contributions to the district’s investment promotion.

During the first nine months of the year, the industrial output of Jiading businesses, with an annual income of over 20 million Yuan, hit 316.02 billion Yuan, placing it at the top of all suburban districts.

The output value of strategic new emerging industries reached 110.31 billion Yuan, the Shine News report adds, making up 34.9% of the total in the district, a 7.7% rise compared to the end of 2022.

Moreover, the total output of Jiading’s three 100-billion-Yuan level industries hit 152.81 billion Yuan between January and September, whilst the online new economy’s total output reached 244.6 billion Yuan.