Lin-gang Special Area holds a launch ceremony for the construction of the Large Aircraft Industrial Park in Shanghai on Oct 23. [Photo/WeChat account: shlgguanweihui]

The Lin-gang Special Area Large Aircraft Industrial Park started construction on Oct 23.

It has been approved as a Shanghai Aerospace Industry Characteristic Park, and is one of 26 characteristic industrial parks in Shanghai.

Twenty-two projects with an estimated total investment of more than 20 billion yuan ($3 billion) agreed to settle in the park at the ceremony.

The park is home to the only special comprehensive bonded zone in China – the Yangshan Special Comprehensive Bonded Zone.

The pre-started project of the Park this time has a total building area of more than 120,000 square meters and is expected to be completed in batches from 2022 to 2023. Aviation research and development offices and professional plants will be available to meet the needs of various participants in the aviation industry.

According to Wu Xiaohua, deputy director of the China (Shanghai) Pilot Free Trade Zone Lin-gang Special Area Administration, Lin-gang Special Area, with the Large Aircraft Industrial Park as its core carrier, will work to develop an aviation industrial cluster worth over 100 billion yuan. It is expected to reach a value of 50 billion yuan by 2025 and 200 billion yuan by 2035. 

Twenty-two projects agree to settle in the Lin-gang Special Area Large Aircraft Industrial Park in Shanghai on Oct 23. [Photo/WeChat account: shlgguanweihui]