Shanghai Launches Comprehensive Support Package for Tech Sector

In a significant move to bolster its position as a technology hub, Shanghai has released 17 new policy measures designed to accelerate growth in the software and information services industry. The "Several Measures for Promoting the High-quality Development of the Software and Information Service Industry in Shanghai" package includes substantial financial incentives for companies across all stages of development.

Strong Industry Performance

Recent data reveals impressive growth in Shanghai's tech sector:

• 690 billion yuan in total industry revenue from January-May 2023
• 20.4% year-on-year growth, outpacing the national average of 14.3%
• Software and IT services leading with 360 billion yuan revenue (27.1% growth)

Key Incentives and Support Mechanisms

The comprehensive policy package features several notable components:

Financial Rewards for High Performers

• Enterprises with annual revenue exceeding 2 billion yuan and above-average growth will receive performance-based rewards
• Tiered rewards up to 30 million yuan for qualifying small and medium enterprises
• One-time 300,000-500,000 yuan growth incentives for smaller companies

AI-Specific Support Measures

• Up to 30% subsidies for outstanding AI projects
• Support for cloud service providers developing model-as-a-service platforms
• "Computing vouchers" to reduce model deployment costs
• Special focus on AI applications in manufacturing and finance sectors
• 50% subsidies available for top-tier AI code generation projects

The policy also introduces differentiated support for:

• High-end software development
• Digital content creation
• Emerging digital technologies
• Data element utilization ## Regional Growth Patterns All Shanghai districts have shown positive growth in the sector, with particularly strong performance in:
• Yangpu District: 25% growth rate
• Putuo District: 22.6% growth rate

The measures aim to reduce operational costs across multiple areas including R&D, financing, network usage, and talent acquisition.

Key Points

• Shanghai implements 17 new policies supporting tech sector growth
• AI projects eligible for up to 30% subsidies, with top performers qualifying for 50%
• Financial rewards structured to benefit companies of all sizes
• Policy addresses multiple cost factors to improve business efficiency
• All districts showing strong growth, with central areas leading at over 20%

The comprehensive approach demonstrates Shanghai's commitment to maintaining its leadership in China's technology landscape while fostering innovation across the entire industry ecosystem.