(Yicai) Jan. 15 -- More and more companies engaged in emerging industries, such as artificial intelligence, big data, and autonomous driving technologies, have settled in industrial parks in Shanghai.

Firms across the self-developed chip supply chain, such as semiconductor equipment and electro-arc depositing equipment makers, as well as design, packaging, and testing firms, have settled in Shanghai’s Pudong New Area, according to the latest report from US commercial real estate service provider CBRE Group. Many innovative drug developers also put down roots in biomedicine parks in the city.

The net absorption of office buildings in Shanghai’s industrial parks totaled 51,100 square meters in the fourth quarter of last year, bringing the annual total to 101,000 sqm, according to data from UK real estate and investment management service provider Jones Lang LaSalle. Tech firms, such as integrated circuits makers, were the main source of rental demand.

Most demand for office buildings in Shanghai comes from companies in the semiconductor, AI, biomedicine, medical apparatus and instruments, and other emerging industries, Lu Yan, research direct for East China at CBRE, told Yicai.

The fact that companies in emerging industries rent more office space in industrial parks in Shanghai is directly related to the city’s policy direction and status as a financial hub, according to analysts.

Last year, Shanghai ranked first in China in terms of investment amounts from private equities and venture capitals to the integrated circuits, biomedicine, and AI sectors. Investment bodies are expected to continue to pay attention to these cutting-edge sciences and industries in the future.

The supply of office building space in Shanghai rose 31 percent to 1.1 million sqm last year from the previous year. The finance industry ranked first with a market share of 19 percent, followed by the professional services, technology, media, and telecoms, and consumer goods manufacturing industries.

Editors: Zhang Yushuo, Futura Costaglione