US$11b lift for new tech

Source: Xinhua | 2018-04-11

SHANGHAI will invest 69 billion yuan (US$10.9 billion) this year to upgrade industrial technology to transform its economy, the city government said yesterday.

The technology upgrade also embraces software, patent and testing besides manufacturing, said the Shanghai Municipal Commission of Economy and Information Technology, the local industry regulator.

By the end of 2018, Shanghai will have 1,700 technology upgrading projects covering smart manufacturing, new energy cars, intelligent cars, domestically-developed airplanes and next-generation information technology.

New technologies like artificial intelligence, the Internet of Things and cloud computing are to become new catalysts to accelerate Shanghai’s economic transformation and upgrading, said the commission.

More investment will help upgrade technology on new energy car and e-commerce in Songjiang and Jiading districts.