Shanghai has seized the market opportunities to accelerate the development of clean energy, low-carbon raw materials, functional materials, electrical terminals and resource recycling and improve the efficiency of production process.

It has developed a list of key technologies and enterprises in 36 sub-sectors of ten major industries in the areas of new technology, process, materials, equipment and energy.

By 2025, the industry scale is about to exceed 500 billion yuan ($70.07 billion).

Support the upgrading of green and low-carbon processes, the application of new technologies, energy-saving transformations, energy management centers and clean production projects. Individual projects can receive a maximum support of 10 million yuan. Encourage the implementation of projects in hydrogen, wind, solar, biomass energy, and offer a top annual reward of 50 million yuan for individual projects in offshore wind power.

The aforementioned incentives are derived from the Policies and Measures on Strengthening Investment Promotion and Accelerating the Construction of a Modern Industrial System in the New Era.

Source: Shanghai Foreign Investment Guide 2023