Shanghai unveils steps to build sci-tech innovation corridor in Yangtze River Delta

The Shanghai Municipal Government issued measures to support the construction of the G60 science and technology innovation corridor in the Yangtze River Delta as a source area on Thursday, making the corridor a pioneer in China's scientific and technological and industrial innovation.

The measures highlight the functional positioning of Songjiang district as the source of the G60 science and technology innovation corridor in the Yangtze River Delta. It plays a leading and exemplary role in driving cross-regional collaboration in scientific and technological innovation and industrial innovation in the Yangtze River Delta, becoming a driving force for high-quality development in the region.

Meanwhile, the measures explore a new mode of coordinated development of industrial clusters, focus on the new generation of electronic information industry (intelligent terminals) and aerospace industry (satellite internet), and accelerate the construction of a modern industrial system supported by advanced manufacturing clusters and productive services.

The measures are promoted throughout Songjiang district, spreading to the Yangtze River Delta. While strengthening innovation across the entire region, policy synergy is being systematically integrated in areas such as scientific and technological innovation, industrial development, land planning, and talent attraction to accelerate the resolution of current bottlenecks that hinder the integrated development of scientific and technological innovation and industrial innovation.

Focusing on building a source of technological innovation, the measures propose to improve the diversified investment mechanism for applied basic research, and provide funding support stage by stage, not exceeding 30 percent of the total investment and up to a maximum of 30 million yuan ($4.28 million).

Aiming to jointly build world-class industrial clusters, the measures promote the development of the new generation electronic information industry and the aerospace industry, by providing funding support stage by stage, not exceeding 15 percent of the total investment and up to a maximum of 50 million yuan.

In terms of jointly cultivating a world-class innovation ecosystem, the measures promote high-level exchanges and cooperation by providing up to 5 million yuan in start-up funds and offering annual financial support of no more than 30 percent of operating expenses and up to a maximum of 2 million yuan.

As for sharing technological innovation resources, special funds will be established, with a total investment of 2.5 billion yuan ($356.8 million) over five years, including 1 billion yuan from the municipal finance department and 1.5 billion yuan from the district finance department.