(Yicai) March 21 -- Over 580 major industrial projects, involving a total investment of more than CNY1.1 trillion (USD152 billion), have already been inked in the lead-up period to the Global Investment Promotion Conference, which officially kicks off on March 25 in Shanghai, the director of the Shanghai Global Investment Promotion Office said at a press briefing yesterday.

The Global Investment Promotion Conference, which is now in its fifth year, is a vital platform for both domestic and international investors to learn about and invest in Shanghai and China, Zhang Ying said.

Highlights of the event, which is now in its fifth year, include the launch of two CNY50 billion (USD6.8 billion) funds to support the development of the real economy, Zhang said. One of the funds is the second phase of Shanghai’s industrial transformation and upgrading fund and the other is the state-owned merger and acquisition fund matrix.

This year’s conference, which revolves around the theme "Global Vision With Opportunities in Shanghai," will showcase Shanghai’s investment opportunities and environment, release key achievements and major projects, and proactively promote practical investment connections and project collaborations, she said.

The 2025 Shanghai Key Industry Layout Map will be released to co-ordinate industrial development and spatial layout. Twenty key application scenarios will be released to form a carrier platform for the implementation of investment projects. There will also be launch ceremonies for a number of projects, including those in smart terminals and integrated circuits.

Shanghai ranks first in industrial labor productivity among Chinese cities, and it has topped the country’s manufacturing quality competitiveness index for 15 years in a row. In recent years, the city has rolled out a range of innovative measures to address business concerns over costs, Zhang said. Last year, the municipality introduced 17 measures aimed at trimming costs, saving industrial enterprises over CNY52 billion (USD7.1 billion).

This year, the city plans to slash costs by another CNY10 billion (USD1.3 billion), on top of last year’s savings, while also boosting the supply of innovative elements such as smart computing and data, to help businesses make more money.

"In the past year, the city has received 1,925 projects worth over CNY110 million (USD15.2 million) each, with a total investment of more than CNY1.1 trillion (USD151.7 billion). Of these, 40 percent were in emerging industries, future industries, and other major high-quality projects costing more than CNY100 million. Industrial investment hit a historic high, exceeding CNY200 billion (USD27.5 billion) for the first time, and jumping 11.1 percent year-on-year," she said.

This year’s conference will feature a series of activities, known as "1+3+N+X." There will be One opening ceremony and Three roundtable discussions focusing on private firms, foreign companies, and state-owned enterprises. There will also be numerous Negotiations, matching events, as well as X-themed activities such as industry promotions organized by different districts.

Editor: Kim Taylor