Shanghai to speed up development of Lingang

Thirty guidelines have been issued by the Shanghai municipal government to help Lingang, a satellite city on the southeastern tip of Shanghai, build a more livable and enterprise-friendly city, sources said.

The Lingang area plays an important role in the overall development of Shanghai, and the municipal government has provided solid policy support for Lingang to attract talent from high-end manufacturing and innovative industries, Xiao Lin, vice-director of the Shanghai Municipal Development and Reform Commission, told a news conference Thursday.

The 30 guidelines include providing capital and financing support to high-end manufacturing, supporting development of modern services, offering favorable policies to people working there, and ensuring low-cost land use.

Zhu Jiajun, deputy director of Lingang's development and construction management commission, said the satellite town plans fixed-assets investment of 100 billion yuan ($15.9 billion) in the next three years

"Through 10 years of development and construction, the Lingang area has retained a 45 percent annual growth rate in total industrial output value, and had invested 116 billion yuan in fixed assets as of the end of 2012," Zhu said.

According to Zhu, the Lingang area has formed an industrial structure that includes new energy equipment, auto parts and components, key components for ships, ocean engineering, engineering plants, civil aviation affiliated industry, and strategic new industry.

To attract and retain talent, the area will offer favorable policies to help them start their own businesses, and apply for visas. Apartments and housing will also be built for those working in Lingang.

Lying about 50 km from downtown Shanghai, Lingang was developed as a support project for the Yangshan Deepwater Port in 2003.