(Yicai Global) April 6 -- Shanghai today signed deals on 26 representative major investment projects, worth CNY67.4 billion (USD9.8 billion) in total, covering cutting-edge fields such as biomedicine and the digital economy, Shanghai Securities News reported.

Among the projects, deals for which were signed at an investment promotion conference, Hangzhou-based industrial software developer NewDimension Systems plans to set up a three-dimensional computer-aided design headquarters in the city’s Minhang district with an investment of CNY2.5 billion.

Shenzhen-based Kohodo Hydrogen Energy will invest CNY5 billion to construct a hydrogen energy industrial complex in Jiading district. Lithium-ion battery material maker Xfh Technology will invest CNY2.1 billion to build a scientific innovation and industrial park in Baoshan district.

At today’s signing ceremony, the Shanghai government announced a series of policy measures to promote investment, including providing incentives of up to CNY100 million (USD14.6 million) for major investment projects; offering up to CNY20 million (USD2.9 million) support for equipment financial leasing projects; and a subsidy of up to CNY10 million for the purchase and renting of housing for headquarters projects.

Ten organizations, including US property developer Tishman Speyer and consultancy McKinsey & Company, were announced as third-batch partners to help the city attract global investment at the conference.

Since its launch in 2021, Shanghai’s program to attract global investment partners has promoted the implementation of more than 40 major projects, with total investment exceeding CNY50 billion.

The city has signed deals on 353 major projects of over CNY100 million since the start of this year, versus 1,375 last year, with total investment of CNY225.4 billion (USD32.8 billion) versus CNY1.2 trillion (USD174.5 billion) throughout 2022, the government said.

Editor: Peter Thoma