A grand signing ceremony took place in SIP on Apr 11 when a number of enterprises and organizations including Philips, Panasonic and Johnson & Johnson signed agreements to launch 150 projects in SIP on the occasion of SIP's 25th anniversary.

It is reported that the projects, with a total investment of about RMB 50 billion, are expected to bring a total output value of over RMB 100 billion and a total tax payment exceeding RMB 10 billion each year after they come into operation. Over 85% of them focus on strategic emerging industries such as biomedicine, AI, nanotech, new-generation information technology and high-end manufacturing. Among them are 35 R&D centers, functional facilities and regional headquarters, 90 advanced manufacturing projects and 18 modern service projects. Some of them will be milestones in cooperation between multinationals and local enterprises, research institutes and schools.