Shanghai has unveiled a sweeping US$10 billion investment package aimed at accelerating its high‑tech industries, marking one of the city’s most ambitious pushes yet to strengthen China’s technological self‑reliance amid an escalating strategic rivalry with the United States. The initiative, centred in the city’s Pudong district, includes 50 major projects worth more than 70 billion yuan, spanning semiconductors, artificial intelligence, biopharmaceuticals, smart vehicles and aviation.
Local officials say the investment spree reflects Beijing’s national call for deeper innovation capacity as China prepares its industrial priorities for 2026 and beyond. Pudong—already home to leading firms such as Semiconductor Manufacturing International Corporation and the Zhangjiang Science City—has set aggressive targets, including building a chip industry with annual output exceeding 500 billion yuan by 2030, alongside major expansions in AI and aircraft manufacturing.
The announcement comes as the US–China tech race continues to sharpen, with Washington tightening export controls on advanced chips and Beijing doubling down on domestic production. Shanghai’s new projects are designed to fortify supply chains, boost early‑stage technology development and position the city as a central hub for next‑generation industries.
While the exact funding sources for the 50 projects have not been disclosed, officials emphasise that the investments are intended to accelerate breakthroughs in core technologies and reduce reliance on foreign suppliers. The move also aligns with broader national efforts to cultivate “new quality productive forces” and strengthen China’s competitiveness in sectors critical to global economic leadership.
Shanghai is the latest in a series of major Chinese cities to announce large‑scale tech initiatives heading into the new year, signalling a coordinated nationwide push to stay ahead in a rapidly evolving technological landscape.
Shanghai, Oriental pearl tv tower Picture from Pickpik.p
