The Lin-gang Special Area in Shanghai has teamed up with financial institutions to establish an integrated, multi-level and market-oriented cooperation mechanism as part of its reform of investment promotion and enterprise services.

A meeting on advancing investment promotion and enterprise services in Lin-gang Special Area was held on Sept 14, with Chen Jinshan, director of the Lin-gang Special Area Administration, in attendance.

During the meeting, Lin-gang Special Area International Investment Development Co signed cooperation agreements with six financial institutions — Shanghai International Group, Shanghai IC Industry Fund, SIMIC Capital, Sinan Fund, Lingang Sci-Innovation Investment and Shanghai Lingang Digital Private Equity Fund Management Co Ltd, as well as four consulting firms — Shanghai Foreign Investment Association, CBRE, Cushman & Wakefield and Colliers.

In the future, Lin-gang Special Area will focus on precise investment promotion around leading industries and specific sectors. It aims to expand and strengthen advanced manufacturing, focusing on four major areas: integrated circuits, smart vehicles, civil aviation, and high-end equipment manufacturing.

It will also accelerate the development of modern service industries, particularly in cross-border and offshore data, cross-border and offshore finance, and high-level shipping services.

Over the past five years, Lin-gang Special Area has played a crucial role in driving the city's economy, with major economic indicators growing at an average annual rate of more than 30 percent.