Shanghai launched 64 new projects with a combined investment of 273.4 billion yuan ($42.2 billion) on Monday, involving high-end industries, scientific and technological innovation, infrastructure, major livelihood and other fields.
The projects will spread across the city and will further unleash Shanghai's enormous development potential. It includes manufacturing, integrated circuits, biomedical and artificial intelligence projects, as well as high-end industrial chain programs of technological innovation, finance and trading.
Shanghai's economy has largely remained resilient despite the COVID-19 effect. From January to November, its fixed assets investment grew by 10.7 percent on a yearly basis, while manufacturing investment rose by 19.3 percent, the 33rd month in a row of double-digit growth.