Shanghai has unveiled comprehensive measures to establish the G60 Science and Technology Innovation Corridor as a premier hub for technological advancement in the Yangtze River Delta region. The municipal government’s newly issued policy framework designates Songjiang District as the strategic core of this initiative, positioning it to lead cross-regional collaboration in scientific research and industrial innovation.
The ambitious plan focuses on developing cutting-edge industrial clusters, particularly in next-generation electronic information systems (including intelligent terminals) and aerospace technology (with emphasis on satellite internet infrastructure). This coordinated development approach aims to accelerate the establishment of a modern industrial ecosystem supported by advanced manufacturing and productive services.
Financial commitments form a cornerstone of the strategy, with Shanghai allocating substantial resources to overcome existing development bottlenecks. The measures introduce a diversified investment mechanism for applied basic research, offering funding support of up to 30% of total investment or 30 million yuan ($4.28 million) per project. For industrial cluster development, the government will provide staged funding reaching 15% of total investment or a maximum of 50 million yuan.
To foster a world-class innovation environment, the initiative includes provisions for startup funding up to 5 million yuan and ongoing operational support covering 30% of expenses (capped at 2 million yuan annually). A significant five-year special fund totaling 2.5 billion yuan ($356.8 million) has been established, with municipal finances contributing 1 billion yuan and district-level funding providing the remaining 1.5 billion yuan.
The comprehensive policy package systematically integrates support across multiple domains including technological innovation, industrial development, land planning, and talent acquisition, creating a synergistic framework for regional advancement.