The Lin-gang Special Area of China (Shanghai) Pilot Free Trade Zone is deepening cooperation with Italy in industrial manufacturing, international trade, cultural exchange and other fields, according to the municipal government of Shanghai.

Both sides are focusing on the construction of a demonstration zone that emphasizes cooperation in advantageous industries, integration of innovative resources and cultural exchange, with the aim of creating an industrial park for Italian small and medium-sized enterprises.

On the north side of the Dishui Lake in the Lin-gang area, the Italian SMEs industrial park is expected to cover a total area of 6.78 square kilometers. The starting zone is approximately 1.5 sq km, focusing on four sectors: civil aviation, automobiles, high-end equipment and light industry. It aims to create a multifunctional platform integrating manufacturing, research and development, services, exhibitions, and trade, along with a compound and diversified international community. Additionally, functions such as new global trade, bonded manufacturing and bonded R&D are planned.

The initial layout features a 1,000-square-meter Italian enterprise center that includes display and exchange services. Each Italian company entering the Lin-gang area will be provided with service managers to offer one-stop, end-to-end services, resolving entrepreneurs' concerns.

The industrial park includes around 16,000 sq m of industrial plants, catering to SMEs' projects in R&D, micro-manufacturing and trade that require immediate occupancy. While the reserve land for strategic projects covers 6.67 hectares in the short term, 33.35 hectares will be available in the long term for industrial use.

In the near future, the park will introduce specific policies including subsidies for Italian companies from various aspects, support for building a "front-store, back-warehouse" bonded display and trading center for Italian goods, and convenient talent-related measures for personnel.

The Lin-gang area also offers a full range of high-quality international schools, ready-to-move-in internationalized communities and comprehensive medical facilities, making life easier for foreign workers.

Moreover, abundant cultural, tourism, sports and leisure resources such as the Shanghai Disney Resort, indoor snow and ski slope, ocean park, observatory and yacht club allow foreign nationals to enjoy life in the Lin-gang area.

Since its establishment in 2019, domestic and foreign enterprises have flocked to the Lin-gang area, including a group of well-known domestic and foreign companies such as Tesla from the United States and PAMA.

Over the past five years, it has attracted a total investment of more than 80 billion euros ($74 billion) in equivalent internal and external projects, with actual foreign direct investment increasing by an average of 45.3 percent annually. The regional GDP has grown by an average of 19.8 percent annually, attracting more than 80,000 talents from home and abroad, and achieving an average annual growth of 37.5 percent in trade import and export volume.