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Oriental Pearl invests in Lingang Special Area

Shanghai’s biggest new media group is among several firms investing a total of 20 billion yuan (US$2.85 billion) to set up facilities in the Lingang Special Area, part of the city’s free trade zone, the companies said on Monday.
Oriental Pearl, the new media subsidiary of SMG, the Shanghai Media Group, said it will be investing heavily to build a integrated industrial base covering culture, tourism as well as film and television industry. It will become a “highland” and “demonstration area” for culture and tourism in the Yangtze River Delta, Oriental Pearl said.
Also on Monday, several firms signed with the Lingang Special Area on new projects, with total investment of over 20 billion yuan.

 

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