A group of companies and institutions, including China Mobile and Tongji University, yesterday signed agreements to invest at least 700 million yuan (US$112 million) to build a high-tech industry zone in Nanhui of Shanghai's Pudong New Area. 

 

The Zhicheng high-tech zone will cover 380,000 square meters and will be built by the end of next year.

 

Zhicheng is near the Jinqiao Export Processing Zone, which focuses on manufacturing and exports, as well as Zhangjiang High-Tech Park, specializing in software, integrated circuits and pharmaceuticals.

 

The agreements signed yesterday included 16 projects such as research and development centers for aviation, chip design and power generator equipment for new energy, said Xi Zhizhong, general manager of Shanghai Nanhui Industrial Zone Corp. 

 

"We are in the central part of Pudong, beside Zhangjiang and Jinqiao," Xi said. "We have to focus on our own advantages to build Zhicheng into an area with high-tech manufacturing and a strong research ability."

 

The Bank of Communications, China Mobile, China Telecom and DTZ signed agreements with the local government to locate in the Zhicheng zone.

 

The zone will also be home to a new research center for airplane technology, new materials and telecommunications equipment and related training.

 

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