Shanghai rolls out new measures to build free trade zone into high-tech hub

Authorities in Shanghai on Thursday announced a series of new measures to build the Lingang New Area, one of China's 21 free trade zones, into a high-tech innovation hub with globally competitive entrepreneurship.

The new measures cover eight services such as network access, financing, and overseas expansion support. They target eight key emerging industries, including core technology sectors, data processing, and cross-border healthcare.

In addition, the city offers rent-free office to startups and residential space to entrepreneurs in the Lingang New Area.

A number of leading universities, research institutes, financial institutions, and major enterprises have also partnered with the Lingang sci-tech city, aiming to create a tightly-knit industrial cluster.

At present, the Lingang New Area has gathered a group of firms in the integrated circuit sector in the hopes that upstream and downstream firms can form a collaborative ecosystem that facilitates resource sharing and innovation.

The 0.52 square-kilometer zone is also home to more than 20 tech firms and listed company headquarters.

Since its establishment six years ago, Lingang has signed 679 key projects in advanced technology industries, with total investment exceeding 730 billion yuan (about 100 billion U.S. dollars).

"Now, our country calls for the integration of industrial and technological innovation. The research and development community brings together institutions in the community, including scientific research institutes, leading enterprises, carriers of the community, along with funding, institutional innovation, and academic resources, to form a comprehensive entrepreneurial ecosystem," said Lu Yu, director of the development and reform department of the administrative committee of the Lingang New Area.

Shanghai rolls out new measures to build free trade zone into high-tech hub

Shanghai rolls out new measures to build free trade zone into high-tech hub

Several dozen people are feared dead and around 100 injured Thursday after an explosion at a bar in the Crans-Montana ski resort in Valais Canton of southwestern Switzerland, local police said.

Those injured in the blast and subsequent fire suffered serious injuries and were taken to hospitals in Sion, capital of Valais canton, as well as in other cities, Valais Canton Police Chief Frederic Gisler said at a press conference.

An investigation is underway to determine the cause of the explosion, but authorities have ruled out an attack.

Helicopters and ambulances, including some from abroad, rushed to the scene, as the intensive care units and operating rooms of local hospitals are at full capacity, said local officials at the press conference.

Guy Parmelin, President of the Swiss Confederation, has arrived at the scene of the accident.

Dozens dead, 100 injured after explosion in Swiss ski resort Crans-Montana: police