Shanghai's Jiading district government signed a memorandum of strategic cooperation with the Shanghai Financial Services Office on July 3 to strengthen the role of finance in serving Jiading's social and economic development.

The two sides also agreed to use their advantages in policy, resources and information to enhance the support of financial resources for Shanghai's scientific and technological construction, and to promote the city's innovation-driven development and economic transformation.

Ma Chunlei, Party secretary of the Jiading district, said that in order to achieve the joint development of industry, finance and the city, Jiading cannot do without the support of the Shanghai Financial Service Office.

He added that this cooperation will surely help Jiading to build a good financial environment and advance the district's social and economic development.

Jiading authorities also announced that the district will establish and improve channels between industrial information and financial institutions within three years, so as to develop new industrial models and economic growth.

Jiading will give stronger financial support to the integrated circuits and internet of things (IoT), new energy vehicles and intelligent vehicles, high-performance medical equipment and precision medicine, intelligent manufacturing, robotics and other strategic emerging industries.

It will also build a multi-layered financial service platform to help Chinese and overseas tech talents start up businesses in Jiading, set up government guidance funds to lead social capital to invest in Jiading's key industries and bolster the development of industry chain financing to serve local industries such as automotive, medical equipment and integrated circuits.

Participants also visited the Shanghai United Imaging Healthcare and Jiading New Town Planning Exhibition Hall before the signing ceremony.