ANN/THE STAR – Numerous new high-technology projects have been launched in Shanghai’s Pudong New Area, reflecting the metropolis’ resolve to further advance innovation.
A total of 88 major tech projects were unveiled in Pudong during an event, with the combined investment value approaching CNY34.1 billion.
The new projects mainly focus on the three strategic emerging sectors of artificial intelligence (AI), biomedicine and integrated circuits.
Financial technology software solution provider Shanghai Newtouch Software Co Ltd joined the event and signed cooperation agreements with the area’s government on Wednesday. It announced an investment of over CNY600 million.
The company is listed on the tech-heavy Star Market and aims to set up its headquarters in Lujiazui, Shanghai’s financial hub in central Pudong.
The investment will also be used to build four major laboratories for Newtouch, covering blockchain, big data, AI and cloud computing, said Newtouch chairman Guo Wei.
Four Fortune 500 companies signed agreements with the Pudong government to launch new high-tech projects in the area.
Schneider Electric is among the four, and will set up a new secure power innovation lab in Pudong, which will shoulder the research and development responsibilities concerning key power supply and energy storage for the Chinese market and the rest of the world for the French multinational company, said Senior Vice-President of Schneider Zhu Wenqin.
Another 58 major technology projects began construction on Wednesday, with a total investment value of CNY52.6 billion.
The global headquarters of SmartSens Technology (Shanghai) Co Ltd, a chip design company, started construction on Wednesday.