Pudong steps up efforts to build modern industrial system

East China's Shanghai released an action plan to promote the development of green and low-carbon industries, the metaverse, and the intelligent terminal industry, with a planned total output value to exceed 1.5 trillion yuan ($222.11 billion) in 2025.

Supported by the city's development plan,  Pudong New Area has currently attached great importance to building a modern and open industrial system, noting that the area will be committed to innovation-driven development, speeding up digital transformation, and promoting green, low-carbon and cluster development, according to Wu Qiang, deputy director of Pudong New Area.

Pudong will advocate for progressive legislative initiatives to get rid of institutional roadblocks that consistently obstruct industrial growth. In order to support Pudong in the creation of distinctive industrial parks, the creation of intelligent networked vehicles, and the establishment of new research and development (R&D) institutions, the area will make full use of its legal advantages as a pioneer area for socialist modernization.

Efforts will also be made to optimize the spatial layout of industries, and cultivate competitive industrial clusters. Currently, the area has built a total of 15 municipal-level characteristic industrial parks, with a planned area of 43 square kilometers, and more than 170 leading enterprises have settled in the parks, covering key industries such as integrated circuits, biomedicine, artificial intelligence, high-end manufacturing, and online economy.

Pudong will build a distinctive industrial park featuring the fast-growing metaverse, which is the immersive online world where people can gather virtually and interact thanks to advanced technologies. The park will focus on the industrial layout of next-generation computing power platforms, future intelligent interactive terminals, emerging digital creation tools, and diversified digital content products. The industry scale related to the metaverse in the park is expected to reach 100 billion yuan ($14.83 billion) by the end of 2025, which will offer a solid support mechanism for Shanghai to transform into an international digital capital destination.

In order to provide strong policy support for the area's industrial growth, Pudong plans to focus on developing and introducing industrial policies.