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SHANGHAI will pour large investment into the city’s industries this year as part of plans to modernize manufacturing and bring factories to the cutting edge of new technologies, Shanghai Commission of Economy and Informatization said earlier this month.
As a benchmark, Shanghai invested 45.8 billion yuan (US$7.03 billion) last year to complete work on 100 key industrial projects. This year, plans to put those projects into operation will be expedited, with hoped-for profits to follow.
The completed projects span a spectrum of industries, including information technology, automobiles, specialty steel, equipment manufacturing and bio-pharmaceutical.
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