(Economic Observation) Where did the "gravity" come from the Lingang New Area of Shanghai Free Trade Zone?
China News Service, August 20 (Reporter Li Shuzheng) The addition of the Lingang New Area of the China (Shanghai) Pilot Free Trade Zone (hereinafter referred to as the Lingang New Area) is a strategic plan for the Chinese government to further expand and open up, and it is also a gift from Shanghai. One of three major tasks.
On the 20th, it was the second anniversary of the inauguration of the Lingang New Area.
According to the latest official data, since its inauguration on August 20, 2019, the Lingang New Area has signed a total of 765 projects, involving an investment of more than RMB 447.8 billion (RMB, the same below).
In other words, since the inauguration, an average of one project and more than 600 million yuan of funds have entered the Lingang New Area every day.
Where does the "gravity" of Lingang New Area come from?
"With the growth of the (Lingang) new area, we have also grown from a small company with 5 people to an enterprise with 4 holding subsidiaries at home and abroad." Xu Fei, head of Shanghai Hanxin Technology Co., Ltd., said that A new silicon carbide industrial base will be built in Lingang New Area to develop silicon carbide devices and modules.
"Lingang attracts us most because of the ecological environment of the integrated circuit industry." Xu Fei said that for every technology company with expertise, Lingang is a "fertile ground for science and technology."
In the field of integrated circuits, Lingang New Area has formed a layout of the entire industry chain.
More than 100 companies including Wingtech, Geke, Xinwei, and China Micro are gathered here, with a total investment of over 150 billion yuan.
Frontier industries are not only the "ballast stone" for the construction of the Lingang New Area, but also the main starting point for its formation of a strategic growth pole.
The output value of smart new energy vehicles in the Lingang New Area is expected to exceed 150 billion yuan this year, becoming the first frontier industry in the new area that has exceeded the scale of 100 billion yuan.
According to the "14th Five-Year Plan" of the Lingang New Area, by 2025, the GDP of the Lingang New Area will quadruple from 2018, with an average annual growth rate of about 25%.
Opening up is an important source of the attractiveness of the Lingang New Area.
At the beginning of its inauguration, Lingang New Area proposed to build an institutional open system with "five freedoms and one convenience" as the core.
"We are quite optimistic about the Lingang New Area." At the second anniversary of the establishment of the Lingang New Area, Tu Lei, CEO of Credit Suisse Securities, said that as a foreign-controlled brokerage firm, Credit Suisse Securities Shanghai Branch will help promote Lingang. The industrial innovation, capital formation and market development of the new area are integrated and developed.
The first foreign-controlled commercial wealth management company and the first wholly foreign-owned financial technology company landed; the Yangshan Special Comprehensive Free Trade Zone was closed and operated; the innovative international transfer and assembly, and the first to launch pilot projects such as the cross-border transfer of domestic trade financing assets... For two years , Lingang "Five Freedoms and One Convenience" system is gradually improved.
This also makes Lingang a new highland for attracting foreign investment.
Official data show that from January to July 2021, the Lingang New Area actually received US$437 million in foreign investment, a year-on-year increase of 55%.
"After two years of hard work, the framework of the Lingang New Area institutional open system has basically taken shape." Zhu Zhisong, member of the Standing Committee of the Shanghai Municipal Party Committee and Secretary of the Party Working Committee of the Lingang New Area, said that the next Lingang New Area will be tested first in accordance with the unified national deployment. Expand the opening up in the fields of finance, value-added telecommunications, cross-border data flow, education, and medical care.
The "14th Five-Year Plan" of the Lingang New Area proposes that by 2025, the Lingang New Area will initially be established as a special economic function zone with strong international market influence and competitiveness. It will be the first to achieve breakthroughs in several key areas and become China's deep integration. An important carrier of economic globalization, it has become a hub node for Shanghai to build a dual-cycle strategic link between domestic and international.
Facing the future, there are more miracles waiting to be written in this hot land of the East China Sea.
"In the next step, the Lingang New Area will insist on boldly entering, experimenting, and reforming independently, and strive to form more breakthrough and leading reform and innovation results." Zhu Zhisong said.
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