Policies help firms expand in Shanghai

City's software, IT sectors generate $96b in revenue in first five months

The Shanghai municipal government announced last month several measures to promote the high-quality development of the software and information technology industry, aimed at leveraging the sector as a key engine in supporting the city's economic growth, according to an official notice.

Effective July 1 to June 30, 2028, these incentives cover 17 aspects in four main categories.

These are: enterprises that meet certain criteria will be eligible for relevant incentives; AI-driven improvements will be promoted to enhance the industry; supportive policies for the cultivation of the industry will be improved, and cost-saving and burden-reducing measures for businesses will be facilitated.