Shanghai to spend RMB61bln on industrial projects

Shanghai will start 25 major industrial projects this year with a total investment of RMB61.26bln (US$7.38 billion), three times the amount spent in the previous year. Upon completion, these projects are expected to bring in sales revenue of RMB69.8bln and a tax income of RMB14.2bln. In the coming five years, Shanghai will invest 400 bln to RMB450bln in industry, 80% of which will be put into pillar industries.

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