November 29, 2019

Lingang to forge unique place within FTZ

The Lingang Special Area, part of the Shanghai Free Trade Zone, said yesterday it will focus on seven cutting-edge industries as to differentiate itself from the rest of the FTZ.

Chen Jie, deputy director of the Lingang administrative committee, said Lingang’s role in industrial development is to unblock bottlenecks and support the innovative growth of emerging industries.

The seven it is targeting are integrated circuits, artificial intelligence, biomedicine, aerospace, new energy vehicles, equipment manufacturing and green remanufacturing.

Lingang’s aim to be different from the rest of the FTZ includes focusing on new international trade, cross-border financial services, shipping services, information services and scientific and technological innovation services.

“A clear road map will better lead the area’s industrial layout and cultivate its industrial ecology, help break through the information barriers between the government and enterprises, and provide more accurate support for decision-making to build an open industrial system,” Chen said.

Yesterday was the 100th day after the official establishment of yhe Lingang Special Area of the China (Shanghai) Pilot Free Trade Zone. It’s administrative committee has reached agreements with investors on more than 90 projects.

Deals for seven projects, worth a total 15 billion yuan (US$2.13 billion) were signed yesterday, including ACM Research (Shanghai)’s equipment R&D and manufacturing center, an aircraft parts manufacturing project of Shanghai Aircraft Equipment Manufacturing Co and an intent on strategic cooperation with Tokyo Electron (Shanghai) Ltd.

“Globally, the IC and equipment manufacturing industries are almost all developed in the most active, economically developed and open regions in terms of science, technology and finance,” said Wang Jian, general manager of ACM Research.
“Lingang is the right answer for the development of the IC industry. ACM Research chose to set up new projects in Lingang and incorporate them into the company’s global development.

“ACM Research will develop new products in Lingang and also build an advanced manufacturing base here.”