Putuo District has announced it is to expand its Changfeng Eco-Business District into the Shanghai Science and Technology Financial Industrial Park, the first of its kind in Shanghai.
The district government made the announcement at the 2017 Changfeng Science and Technology Financial Forum on December 9.
Themed on "deepen financial innovation and service entity economy," the forum was jointly held by the Putuo District, Shanghai Science and Technology Commission, Shanghai Financial Services Office and Shanghai Academy of Social Sciences.
At the forum, the district government signed memorandums of strategic cooperation with the Fosun Group and Tebon Securities to integrate financial resources to base in the newly established park.
As a highlight, the district government also signed a memorandum of cooperation with Shanghai Jinpu Investment Management Co to establish the second phase of the Shanghai Financial Development Investment Fund totaling 1.5 billion yuan (US$227 million).
The fund will be invested in science and technology finance, intelligent manufacturing and other industry-oriented enterprises to guide the financial capital and help achieve the value of science and technology.
The new science and technology finance park will be featured by four major industrial zones on the science and technology financial, Internet plus, intelligent technology and international education.
"Science and technology finance is a combination of industry and finance," said Zhou Minhao, director with the Putuo District.
Financial sector innovation
The development of information technology and the Internet has promoted the innovation and transformation of financial instruments and financial services. In turn, the development of the financial industry also serves science and technology enterprises as well as help transformation of scientific and technological achievements.
Putuo has long had the resources and advantages of developing science and technology finance, the district government said.
The district features 17 major research institutes with national influence, such as the Shanghai Electrical Apparatus Research Institute (Group) Co and China Electronics Technology Group Corporation, as well as two major universities, the Tongji University and East China Normal University.
Thirty-four robotic industries and related companies are based in Putuo. The China-Israel robot investment and incubation center has become an important hub to drive the city government's ambition to be a scientific and innovation center with global influence.
Furthermore, the district, covering 55 square kilometers downtown, has sufficient space for manufacturing, research and development, as well as offices. The district is also the only downtown area that has the inner, middle and outer ring roads running through. They offer convenient transport to neighboring provinces and other Chinese regions.
Now, the 2.2-square-kilometer Changfeng Eco-Business District will expand to the north of Caoyang Road in the east, Suzhou Creek in the south and Wuning Road in the north to the Beijing-Shanghai Expressway, reaching a total area of 10 square kilometers.