Shanghai plan eyes global hub for energy equipment

Shanghai has unveiled a three-year action plan (2027-29) to develop its energy equipment industry, aiming to establish the city as a global innovation hub for the sector and a major center for international cooperation and overseas business development.

Industry focus

The plan targets an output value of 400 billion yuan (about $60 billion) for the energy equipment industry by 2029 and aims to exceed 500 billion yuan (about $75 billion) by 2030.

The city will focus on six major emerging fields: advanced nuclear energy, hydrogen-based energy, offshore wind, industrial gas turbines, perovskite photovoltaics, and superconducting and high-conductivity copper power transmission and distribution.

Three advanced energy equipment manufacturing clusters will be built in Minhang district (advanced energy, green and low carbon), Songjiang district (new energy electric power equipment), and the Lin-gang Special Area (power equipment).

Shanghai also plans to develop 10 flagship products, including microreactors, high-hydrogen-blend industrial gas turbines, and 25-megawatt-class floating wind turbines designed for deep and far offshore waters.

Going global

The plan encourages companies to jointly explore overseas markets and promote the "Offshore Wind" and "Shanghai Nuclear Power" brands.

Shanghai will support companies in setting up overseas research and development centers and energy institutions, building overseas energy facilities, taking part in international standard-setting, and filing international patent applications.

The plan supports efforts to obtain international certification for high-end energy equipment intended for overseas markets, including certification under the IEC System for Certification to Standards Relating to Equipment for Use in Renewable Energy Applications (IECRE), helping domestic products enter global markets.

Talent and finance

Shanghai will leverage national and municipal programs for recruiting high-level talent from overseas to attract global experts in energy equipment, and qualified companies can apply for the city's special talent awards for key industries.

The plan encourages financial institutions to expand credit loans, financial leasing, and medium- to long-term loans for energy equipment companies, and supports insurance institutions in developing energy equipment insurance products.

Companies are also encouraged to provide general contracting services, system solutions, and operations and maintenance services, and to develop long-term value-added services such as equipment health management and fault diagnosis.

Source: Shanghai Municipal Commission of Economy and Informatization