[cs_content _p=’6558′][cs_element_section _id=”1″ ][cs_element_layout_row _id=”2″ ][cs_element_layout_column _id=”3″ ][cs_element_text _id=”4″ ][cs_content_seo]The Lin-gang Special Area, part of the China (Shanghai) Pilot Free Trade Zone, has been at the forefront of innovation and economic growth since its establishment. Celebrating its fifth anniversary, Lin-gang has attracted numerous companies, including China’s first independent car design company, IAT Auto, which recently signed an investment framework agreement to conduct its automotive research and development operations in the area. This move highlights the area’s appeal due to its extensive transportation network and policies promoting global competitiveness.
Thriving Automotive Industry in Lin-gang
The automotive sector in Lin-gang has seen remarkable growth, with the area producing over 1.1 million intelligent connected cars in 2023 alone, resulting in an annual output exceeding 300 billion yuan. A significant contributor to this success is Tesla, whose gigafactory in Lin-gang has become the largest foreign-invested manufacturing project in Shanghai, attracting over 180 companies that supply parts and services. The strategic policies and streamlined administrative processes have enabled rapid project execution, demonstrating Lin-gang’s commitment to fostering a conducive business environment.
Institutional Innovations and Industry Growth
Over the past five years, Lin-gang has implemented 138 institutional innovations, covering various sectors such as free trade, cross-border finance, and high-end shipping. These innovations have made the area a fertile ground for industries like civil aviation, integrated circuits, artificial intelligence, and biomedicine. For instance, Boeing Shanghai Aviation Services recently completed a record-fast setup process in Lin-gang, showcasing the area’s efficiency and attractiveness for global companies.
Expanding Population and Talent Attraction
The population of Lin-gang has grown from 440,000 in 2019 to over 600,000 today, driven by the expansion of industries and new business opportunities. The government has actively worked to attract talent, issuing over 1,100 work permits for expatriates and approving permanent residency for 79 foreigners. The introduction of China’s first e-visas in Lin-gang further enhances its appeal to global professionals, streamlining the process for setting up businesses and conducting trade.
Supporting Technological Innovation and Talent Retention
Lin-gang has introduced various measures to support technology startups, including a new type of loan designed to stabilize core research and development. The area has also provided housing and rental subsidies to retain talent, with over 2,200 individuals benefiting from these initiatives. Additionally, the construction of Dishuihu School, a public school covering 12 grades, is set to support the educational needs of the growing population, further solidifying Lin-gang’s role as a key area for talent and innovation.
Lin-gang: A Growth Engine for Shanghai
Shanghai’s Party secretary, Chen Jining, has described Lin-gang as a “vigorous and adventurous little tiger,” emphasizing its potential to become a growth engine for Shanghai. By aligning with China’s major development strategies, Lin-gang is poised to initiate more reforms, attract new businesses, and nurture world-class industrial clusters, further enhancing its role as a key player in China’s economic landscape.\n\n[/cs_content_seo][/cs_element_layout_column][/cs_element_layout_row][/cs_element_section][/cs_content]
