The Lin-gang Special Area of China (Shanghai) Pilot Free Trade Zone established an international investment development company this year to deepen the area's reform and innovation of the investment promotion system. It emphasizes professional competence, efficient collaboration and systematic advancement.

The initiative also aims to build a first-class investment promotion service team, create a top-tier business environment and comprehensively enhance investment opportunities in the area.

The company has set up one comprehensive department and four specialized investment promotion departments focused on frontier industries, data, financial trade and the special comprehensive bonded sector.

The frontier industries department is divided into integrated circuits, artificial intelligence, automotive and aerospace equipment.

"Since the establishment of the Lin-gang Special Area five years ago, we have always focused on the dual missions of being a testing ground for reform and opening-up, as well as a growth pole for Shanghai's economy, fully promoting investment attraction and enterprise services," said Wu Xiaohua, deputy secretary of the Communist Party of China's working committee of the Lin-gang Special Area.

Over the years, the area has attracted major industry projects, including investments from Semiconductor Manufacturing International Corp, Cmsemicon, Sunny Optical Technology, JCET and Tesla.

It has also established research institutes with independent research and innovation capabilities, such as the Shanghai Institute of Organic Chemistry affiliated with Chinese Academy of Sciences, the New Materials Research Institute of China National Petroleum Corp and other national laboratories.

In the next five years, the Lingang Special Area aims to create several distinctive industrial clusters with local characteristics. The goals include achieving investment agreements in frontier industries exceeding 600 billion yuan ($84.1 billion), completing industrial fixed asset investments of more than 150 billion yuan, and attracting actual foreign investment exceeding $8 billion.

To achieve these ambitious goals, Wu said that the special area plans to establish an investment promotion leading group to manage related work and services, set annual targets and develop assessment plans.

It will also highlight precise investment promotion around leading industries and specific sectors. For instance, in advanced manufacturing, the focus is on four major fields: integrated circuits, intelligent vehicles, aerospace and high-end equipment manufacturing, attracting large-scale industrial projects and significant fixed asset investments to build a comprehensive industrial ecosystem.

In modern services, the focus will be on three major fields: cross-border and offshore data, finance and high-level shipping services. Leveraging institutional innovation and high-level opening-up, the area aims to accelerate the cultivation of special economic functions.

Future strategies include highlighting Lin-gang's advantages in ecosystem construction, talent security, convenient access to the sea and institutional innovation when promoting investment in key regions such as the Yangtze River Delta and the Pearl River Delta. Special park investment promotion meetings will be held to showcase these advantages.

Additionally, a market-oriented investment promotion cooperation mechanism will be established, and an international investment promotion network will be built. Leveraging Lin-gang's strengths in cross-border finance, data and bonded processing, the scope of international cooperation will be expanded.

Moreover, diversified investment promotion channels will be developed, strengthening cooperation with intermediary organizations and well-known chambers of commerce, and enhancing exhibition-based investment promotion.

Platforms such as the World Artificial Intelligence Conference and the China International Import Expo will be utilized to connect with exhibitions and summits held by Fortune Global 500 companies and multinational corporations.

Furthermore, the corporate service process will be optimized and the assessment and incentive mechanisms will be strengthened to ensure these goals are met, Wu added.

Domestic and overseas companies are welcome to call Lin-gang's hotline on 021-58286023 for investment consultation.

Dishui Lake is a landmark of the Lin-gang Special Area of China (Shanghai) Pilot Free Trade Zone. CHINA DAILY