A total of 146 major science and technology projects with a combined investment of about 86.7 billion yuan ($12.6 million) were signed or started in Pudong New Area on Feb 1.

Eighty-eight were newly signed sci-tech projects with a total investment of about 34.1 billion yuan, and the remaining 58 were projects that started construction with a total investment of about 52.6 billion yuan. Overall, they cover biomedicine, artificial intelligence (AI), integrated circuits (IC), automobile manufacturing and urban function improvement, and are expected to boost high-quality development of Pudong's economy.

The Communist Party of China Central Committee and the State Council jointly issued a guideline in July 2021 to support high-level reform and opening-up of the Pudong New Area in Shanghai. The guideline listed measures to build Pudong into a pioneer area for socialist modernization.

Based on the guideline, Pudong has made great achievements towards those goals, and has carried out a number of institutional innovation projects. To date, it has completed 409 of the 450 tasks required to build itself into a pioneer area for socialist modernization.

As the main force of scientific and technological innovation in Shanghai, Pudong has been devoted to deepening innovation of scientific and technological systems and mechanisms and strengthening construction of scientific and technological innovation subjects and cutting-edge scientific and technological innovation platforms.

The launch of the National Natural Science Foundation for Regional Innovation and Development has attracted much attention. The joint fund has established a three-level cooperation mechanism joining the State, Shanghai and Pudong New Area. From 2023, governments at the three levels plan to invest a total of 120 million yuan each year for five consecutive years to solve key scientific issues and improve the level of research capacity.

At present, one integration project and 11 key projects in Pudong have been adopted by the foundation, involving IC, biomedicine, and AI. Funding for the projects totaled nearly 40 million yuan, accounting for about one third of that for all of Shanghai. Next, Pudong will work to explore a sustainable joint-funding development model.

This year, Pudong New Area will also focus on strengthening reform and innovation in three respects to optimize investment mechanisms and improve service effectiveness.

First, it will increase the industrial land supply and accelerate the construction of infrastructure and supporting facilities in characteristic industrial parks. Second, it will accelerate pooled efforts of multiple departments to solve the difficulties and meet demands of enterprises, so as to accelerate the progress of projects. Third, the local government will carry out increasingly optimized supportive policies for industries, better implement industrial regulations and measures in sectors such as biomedicine and intelligent internet connection, and create a more efficient and law-based business environment for industries, enterprises and high-caliber workers.

Recently, Pudong New Area launched a series of incentives to attract talents globally.

Tailored policies have been designed for different groups. For example, those for financial, shipping, legal service professionals are meant to expand Pudong's modern service industry and advanced manufacturing industry, and policies regarding education and health talents are aimed at social work talents.

By 2025, the number of various talents in Pudong is expected to significantly increase, and the total number of talent resources will rise to about 2 million, giving the region one of the highest levels of talent internationalization and competitiveness in China.