Type to search

Shanghai to invest 270 bln yuan in ‘new infrastructure’

(ATF) Shanghai, the largest economic centre of China, is expected to invest about 270 billion yuan ($38.1bn) in its first batch of 48 major “new infrastructure” projects in the next three years, local authorities said Thursday.

The metropolis plans to set up 34,000 new 5G high-speed network base stations and 100,000 smart charging points for electric vehicles, according to a three-year action plan issued by the municipal government beginning this year 2020.

More than 100 unmanned factories, production lines and workshops are projected to be built in Shanghai during the period, bringing 150,000 enterprises to the cloud platform. The city will also accelerate the construction of photonic scientific facilities.

READ MORE: Right time to build new type of city, says Party 

READ MORE: Tech focus sharpened as coronavirus shows fragility of industry

Compared with traditional infrastructure, “new infrastructure” projects will be mainly invested by society in Shanghai. The first batch of major projects will mobilise 210bn yuan of social investment and the remaining investment will come from local governments at all levels, said Ma Chunlei, head of the Shanghai Municipal Development and Reform Commission.

New infrastructure refers to digital facilities such as 5G base stations, vehicle charging points, big data centres, artificial intelligence and industrial internet.

Shanghai’s four key areas of such projects will focus on the construction of the new generation network, innovative infrastructure, artificial intelligence platforms and intelligent terminals. 


AF China Bond