Pudong lays out 5-year development goals

Pudong New Area recently laid out several goals for its development over the next five years and released a series of action plans to achieve these goals.

Pudong aims to see its six pillar industries, including integrated circuits, bio-pharmaceuticals, aviation, automobiles, and information technology yield an annual output of more than 100 billion yuan ($14.14 billion) by 2025, see the total industrial output of the area reach 1.84 trillion yuan, and see the industrial value-added rate remain above 25 percent.

Pudong is a key part of the new international financial center to be built in Shanghai. To improve its global financial resource allocation, the area aims to house 70 percent of all licensed financial institutes in Shanghai by 2025 and introduce more than 200 high-level international asset management agencies. Value-added of the financial sector in Pudong is expected to surpass 600 billion yuan, or 30 percent of Pudong's GDP.

Pudong aims to attract 50 percent of the city's foreign investment by 2025 and house 50 percent of the city's regional headquarters for transnational corporations, as well as five global headquarters.

The area also plans to improve its transportation, education, healthcare, and agriculture by increasing the number of railways, expressways, public schools, and hospitals.

In addition, Pudong aims to increase the per capita income of rural residents to more than 60,000 yuan, compared with 33,300 yuan in 2018, and introduce 72 model villages for the economy and environment, compared with 22 in 2019.