Shanghai woos business with 216 projects

Shanghai is stepping up efforts to attract business and investment from all over the world to further advance its high-quality economic development, officials said.

The municipal government inked agreements for 216 major industrial projects, involving a combined investment of 489.8 billion yuan ($74.9 billion), on Wednesday during the Shanghai Global Investment Promotion Conference 2021. The agreements were signed in the presence of Shanghai Party secretary Li Qiang.

Manufacturing companies accounted for 118 projects, including 16 integrated circuit projects and 11 artificial intelligence projects. A total of 31 biomedicine projects were signed, including the CanSino Biologics project which can churn out 200 million doses of COVID-19 vaccines every year when put into operation.