{"id":231851,"date":"2026-01-07T06:57:07","date_gmt":"2026-01-07T06:57:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/231851\/"},"modified":"2026-01-07T06:57:07","modified_gmt":"2026-01-07T06:57:07","slug":"shanghai-unveils-us10-billion-investment-spree-as-us-china-tech-race-heats-up","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/231851\/","title":{"rendered":"Shanghai unveils US$10 billion investment spree as US-China tech race heats up"},"content":{"rendered":"<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">Shanghai has announced a slew of new investments in hi-tech industries ranging from chips to artificial intelligence (AI) and aviation, becoming the latest Chinese city to unveil ambitious plans to boost local innovation amid an intensifying US-China tech race.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">The city\u2019s Pudong district unveiled 50 big-ticket projects worth more than 70 billion yuan (US$10 billion) combined on Monday, with most of the investment earmarked to flow into key industries including microchips, AI, biopharmaceuticals, smart vehicles and aviation, among others, local media reported.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">The exact funding sources for the projects have not been specified.<\/p>\n<p>Shanghai is just the latest Chinese city to launch a tech investment spree going into the new year, as local officials across the country heed Beijing\u2019s call to double down on <a target=\"_self\" class=\"e1yy41x40 ef9u0v01 css-1ankfgb ecgc78b0\" href=\"https:\/\/www.scmp.com\/economy\/china-economy\/article\/3330062\/china-pledges-notable-progress-fourth-plenum-concludes-5-year-road-map?module=China%20Economy&amp;pgtype=section?module=inline&amp;pgtype=article\" title=\"\" data-qa=\"BaseLink-renderAnchor-StyledAnchor\" rel=\"nofollow noopener\">developing self-sufficiency in core technologies<\/a> as they map out their priorities for 2026 and beyond.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">Pudong, for instance, has set the goal of developing a chip industry with an annual economic output surpassing 500 billion yuan by 2030, as well as AI and aircraft manufacturing industries with outputs of over 200 billion yuan and 100 billion yuan, respectively.<\/p>\n<p><a target=\"_self\" class=\"e1yy41x40 ef9u0v01 css-1ankfgb ecgc78b0\" href=\"https:\/\/www.scmp.com\/news\/china\/politics\/article\/3197505\/beijing-mayor-chen-jining-tipped-surprise-promotion-top-job-shanghai?module=inline&amp;pgtype=article\" title=\"\" data-qa=\"BaseLink-renderAnchor-StyledAnchor\" rel=\"nofollow noopener\">Chen Jining<\/a>, Shanghai\u2019s party chief, said during an inspection tour on Sunday that local AI start-ups would receive the government\u2019s full backing and that the city would tailor its policies to address their needs, according to official Shanghai media outlet Jiefang Daily.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">Shanghai will play an important role in China\u2019s plans as the world\u2019s second-largest economy confronts a high-stakes tech race with the United States, according to Fu Weigang, president of the Shanghai Institute of Finance and Law think tank.<\/p>\n","protected":false},"excerpt":{"rendered":"Shanghai has announced a slew of new investments in hi-tech industries ranging from chips to artificial intelligence (AI)&hellip;\n","protected":false},"author":2,"featured_media":231852,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[220,8383,218,22708,25560,72,118497,118499,114,118500,113,118496,1647,61,60,118498,81126,53859,5698],"class_list":{"0":"post-231851","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-ai","9":"tag-america","10":"tag-artificial-intelligence","11":"tag-aviation","12":"tag-biopharmaceuticals","13":"tag-business","14":"tag-c919","15":"tag-chen-jining","16":"tag-china","17":"tag-commercial-aircraft-corporation-of-china","18":"tag-economy","19":"tag-fu-weigang","20":"tag-huawei","21":"tag-ie","22":"tag-ireland","23":"tag-pudong","24":"tag-semiconductor-manufacturing-international-corporation","25":"tag-sensetime","26":"tag-shanghai"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/231851","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=231851"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/231851\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/231852"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=231851"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=231851"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=231851"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}