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Xinhua Silk Road: G60 S&T Innovation Valley empowers technological and industrial innovation in China’s Yangtze River Delta

BEIJING, Nov. 22, 2023 /PRNewswire/ — The 2023 Key Factors Bridging Conference on High-Quality Development of the G60 Science and Technology Innovation Valley of Yangtze River Delta at the 6th China […]

BEIJING, Nov. 22, 2023 /PRNewswire/ — The 2023 Key Factors Bridging Conference on High-Quality Development of the G60 Science and Technology Innovation Valley of Yangtze River Delta at the 6th China International Import Expo (CIIE) was held in Shanghai recently.

Photo shows the G60 Science and Technology Innovation Valley in China’s Yangtze River Delta. (Source: Chen Haiwen)

The valley empowers the region’s high-quality development, serving as a pioneer in technological and industrial innovation, which helps market participants to achieve mutual success.

The valley was named after an expressway, G60, which runs through several cities in the Yangtze River Delta. The valley refers to the nine cities and districts including Songjiang District of Shanghai, Suzhou City of Jiangsu Province, Hangzhou, Huzhou, Jiaxing, Jinhua of Zhejiang Province, and Hefei, Wuhu and Xuancheng of Anhui Province, with a total area of 76,200 square kilometers.

Over the past five years, these cities have consistently adhered to promoting high-quality development through high-level opening-up. 

The newly registered capital of foreign-funded enterprises increased by 25 percent, the utilization of foreign capital grew by 54.5 percent, and the import and export volume reached 3.8 trillion U.S. dollars.

In the first three quarters of this year, the total investment in projects landed in these cities amounted to 1.29 trillion yuan. This year, Songjiang’s contracted foreign capital has increased by 62.4 percent compared to the same period last year, setting a new historical record.

Furthermore, the valley aims at sci-tech innovative capabilities and industrial development to cultivate strategic emerging industries. 

In Songjiang, the output value of strategic new industries accounts for more than 60 percent of the output value of industrial enterprises above designated size, and the intensity of research and development investment has risen to 6.79 percent.

In addition, the valley focuses on integration and high quality to build an international first-class science and innovation ecosystem, providing ample space for the robust growth of sci-tech innovation entities.

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