Business / Economy

Shanghai welcomes foreign investment in intelligent manufacturing

(Xinhua) Updated: 2016-01-21 10:44

SHANGHAI - Shanghai aims to vigorously attract foreign investment to intelligent manufacturing in the following five years.

According to a plan released by the Shanghai municipal commerce commission, foreign investors will be encouraged to put their money into industries such as robotics, high-grade NC machine tools, 3D printing, intelligent control systems and NC integrated service.

The city will also support foreign investors to set up research and development centers and innovation platforms in Shanghai.

Advanced manufacturing industry bases will be established and preferential policies will help the founding of foreign-funded manufacturers in Shanghai, according to the commission.

Shang Yuying, director of the commission, said the plan will offer new opportunities to foreign investors and assert Shanghai's determination to promote the restructuring and upgrading of the manufacturing industry.

By the end of last year, the city had some 9,100 foreign-funded manufacturers, about one quarter of the city's foreign-funded companies.

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