City of Shanghai Releases 2022 Investment and Development Plan

Officials in Shanghai issued a document on Tuesday regarding several policies and measures aimed at expanding effective investment and stabilizing economic development in 2022.

The document pointed out that the city of Shanghai plans to promote local digital transformation. The government will support policy banks, development financial institutions and commercial banks to set up preferential interest rate credit projects for “new infrastructure,” which refers to infrastructure that is “digital, smart, and innovative,” with a scale of more than 100 billion yuan ($15.7 billion). The city plans to promote the implementation of a discount policy for new infrastructure construction projects, moderately extend the implementation period of the policy, and guide social capital to increase investment in “new infrastructure.”

The Shanghai government will also accelerate the layout of major demonstration projects exhibiting “new infrastructure” across the fields of hospitals, smart factories and intelligent transportation in the future. It will step up research of the interactive platform between the virtual world and the real society. It aims to make overall use of the city’s industrial and information energy consumption indicators, and strengthen the protection of green data center indicators.

In addition, the city officials suggest developing infrastructure investment moderately ahead of schedule. In the field of transportation infrastructure, the Yangtze River Delta zone has built a global shipping hub, and accelerated the development of ports and airports serving Shanghai.

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In terms of environmental infrastructure, the city will improve the ecological environment quality and defense capability. Shanghai will take measures including promoting the flood control capacity project of dikes in the middle and upper reaches of Huangpu River and improving the domestic garbage classification and disposal system.

Regarding “new infrastructure,” including the construction of 5G networks, artificial intelligence, the Internet of Things (IoT), intercity high-speed rail, Shanghai’s municipal authorities will focus on networks, facilities and platforms, to accelerate the expansion of 5G applications and the promotion of industrial internet clusters.