近日，上海市经信委召开《上海市支持先进制造业转型升级三年行动方案（2026—2028年）》（下 称《行动方案》）政策宣贯会。 《行动方案》明确，到2028年，新增年产值10亿元以上制造业企业100家，累计超过600家，带动产 业链新增规上工业企业500家，规上制造业企业研发费用占营收比重显著提升。《行动方案》自2026年1 月1日起实施，有效期至2028年12月31日。 四大行动17条举措夯实产业根基 二是创新攻关强基行动。支持企业加大基础研究投入力度，根据投入力度分档给予一次性财政补 助。鼓励企业设立研发中心和开放式创新平台，与高校院所共享科研基础设施。对研发费用连续高增长 企业，研究给予一次性奖励。 聚焦关键环节关键技术，加速攻关突破。支持企业聚焦激光制造、新型能源等前沿技术开展基础研 究。聚焦集成电路、高端装备等重点产业链和产业链关键环节开展核心技术和重点技术攻关。 三是能级质效跃升行动。在技术改造方面，推动企业开展生产、研发、设计、服务、品牌全流程改 造升级，对技术改造给予财政资金支持。支持化工园区外存量化工企业在符合条件的情况下，开展项目 建设。支持企业用未分配利润扩大生产和开展技术改造。 在数智转 ...

Core Insights - The economic performance of Shanghai in 2025 shows a year-on-year industrial value-added growth of 5.0% and a total industrial output value growth of 4.6% [2][5] - Strategic emerging industries in Shanghai are projected to grow by 6.5%, increasing their share of the total industrial output value to 45% in 2025, up from 43.6% in 2024 [2][5] - The three leading industries in Shanghai are expected to see a manufacturing output growth of 9.6%, with integrated circuit manufacturing growing by 15.1% and artificial intelligence manufacturing by 13.6% [2][5] Industrial Growth - The total output value of Shanghai's strategic emerging industries is expected to grow by 6.5% in 2025, with the new energy industry growing by 12.9% and high-end equipment industry by 11.1% [2][5] - The "14th Five-Year Plan" emphasizes that this period is crucial for Shanghai's comprehensive development and transformation [2][5] Policy Initiatives - The "14th Five-Year Plan" suggests accelerating the development of three leading industries, enhancing the capabilities and manufacturing levels of integrated circuit equipment, and promoting breakthroughs across the entire industrial chain [4][7] - The plan also focuses on advancing artificial intelligence innovations and improving the development of high-performance computing chips and intelligent technology [4][7] - Shanghai's traditional manufacturing sector will concentrate on product value enhancement, efficiency improvement, and structural optimization to transition from a following position to a leading one [4][7]

Group 1 - The Shanghai Municipal Committee has released suggestions for the 15th Five-Year Plan, emphasizing the promotion of full-stack innovation in artificial intelligence, development of high-performance intelligent computing chips, high-quality data, and efficient intelligent computing clusters [1] - Dongxing Securities believes that the AI industry is currently in a phase of policy, technology, and demand resonance, with the "AI+" initiative providing top-down policy support and potential funding, leading to improved performance validation for domestic chip and cloud computing leaders [1] - The AI industry's prosperity is expected to continue rising, maintaining its dominant position in technology investment [1] Group 2 - Bank of China Securities states that AI has entered the "Physical AI" era, which emphasizes the integration of real physical dynamics such as gravity and friction for precise execution of complex tasks, supported by core pillars like the Newton physics engine and GPU+LPU hybrid architecture [2] - Robotics and autonomous driving are identified as ideal carriers for "Physical AI" [2] - The core raw materials for AI are anticipated to reach a critical transition point from "0 to 1," indicating a shift towards commercialization in real-world applications [2] - "Physical AI" requires substantial computational power and data resources, raising the demands for AI infrastructure development [2]

Core Viewpoint - The article outlines the strategic recommendations for Shanghai's 15th Five-Year Plan, emphasizing the construction of a modern industrial system centered on advanced manufacturing, digital transformation, and green development, aiming to enhance Shanghai's global competitiveness and establish it as a world-class international metropolis [1][2]. Group 1: Economic and Social Development Goals - The 15th Five-Year Plan period is crucial for accelerating the establishment of a globally influential socialist modern international metropolis, with a focus on high-quality development and the enhancement of urban functions [3][4]. - The plan aims for significant achievements in high-quality development, with economic growth synchronized with national trends, improved productivity, and a robust service sector [11][12]. Group 2: Industrial and Technological Innovation - The plan proposes a "2+3+6+6" modern industrial system, focusing on advanced manufacturing, digitalization, and green transformation, while promoting the application of robotics and intelligent manufacturing [15]. - It emphasizes the development of three leading industries: integrated circuits, biomedicine, and artificial intelligence, aiming for breakthroughs across the entire industrial chain [15]. Group 3: Urban and Regional Development - The plan highlights the importance of optimizing urban spatial layout and promoting regional coordinated development, particularly in the Yangtze River Delta region [35][39]. - It aims to enhance the core functions of the city, improve public services, and ensure a balanced urban-rural development [13][36]. Group 4: Financial and Trade Enhancements - The plan focuses on strengthening Shanghai's position as an international financial center, enhancing cross-border financial services, and promoting the internationalization of the Renminbi [19][20]. - It aims to upgrade the international trade center by optimizing trade structures and enhancing the capabilities of service trade and digital trade [22][23]. Group 5: Cultural and Social Development - The plan emphasizes the importance of cultural development, promoting socialist core values, and enhancing the city's cultural soft power [42][43]. - It aims to improve the quality of life for residents, ensuring equitable access to public services and promoting sustainable urban living [13][37].

Core Insights - The Shanghai Municipal Party Committee has released suggestions for the 15th Five-Year Plan, emphasizing the acceleration of three leading industries [1] Group 1: Semiconductor Industry - The plan aims to enhance the capability, manufacturing level, and design ability of integrated circuit equipment, promoting an overall breakthrough and growth of the entire industry chain [1] Group 2: Biopharmaceutical Industry - There is a focus on strengthening the research and development of important innovative drugs and medical devices, with strategies including the development of new drug targets and mechanisms, accelerated transformation of results, improved clinical trial efficiency, and innovative multi-payment methods [1] Group 3: Artificial Intelligence Industry - The initiative promotes full-stack innovation in artificial intelligence, emphasizing the development of high-performance intelligent computing chips, high-quality datasets, and efficient intelligent computing clusters, while also advancing the iteration of foundational large models and the maturation of embodied intelligence technologies [1]

Core Viewpoint - The "Shanghai Action Plan for Supporting the Transformation and Upgrading of Advanced Manufacturing Industry (2026-2028)" emphasizes the importance of the integrated circuit industry, aiming to support enterprises in achieving breakthroughs across the entire industry chain and cultivating internationally competitive leading companies [1][2]. Summary by Sections 1. Main Goals - By 2028, the plan aims to add 100 manufacturing enterprises with an annual output value exceeding 1 billion yuan, totaling over 600, and to drive the addition of 500 large-scale industrial enterprises in the industry chain [3]. 2. Implementation of Structural Optimization and Upgrading Actions - **Optimization of Traditional Advantage Industries**: Support for petrochemical companies to shift towards new functional materials, and for steel and non-ferrous metal companies to strengthen specialty steel and expand light alloys. Financial support of up to 20 million yuan is available for qualifying projects [4]. - **Acceleration of Leading Industries**: Focus on integrated circuits, large aircraft, high-end equipment, and other key sectors to foster innovation and development [4]. - **Promotion of Key and Emerging Industries**: Development of new-generation electronic information, smart connected vehicles, and advanced materials, with encouragement for investment in emerging fields like commercial aerospace and humanoid robots [4]. 3. Implementation of Innovation and Core Technology Actions - **Release of Enterprise Innovation Vitality**: Financial incentives for companies increasing basic research investments, with subsidies ranging from 200,000 to 1 million yuan based on the amount invested [5]. - **Acceleration of Core Technology Research**: Support for enterprises focusing on cutting-edge technologies such as laser manufacturing and quantum technology [5]. 4. Implementation of Quality and Efficiency Enhancement Actions - **Promotion of Technological Transformation**: Financial support for fixed asset investment loans related to technological upgrades, with a maximum support of 20 million yuan [6]. - **Deepening Digital Transformation**: Initiatives to enhance AI applications in manufacturing, aiming for full coverage of smart factory applications by 2028 [6]. 5. Implementation of Resource and Element Support Actions - **Strengthening Talent Recruitment**: Support for enterprises in attracting high-level talent, with financial rewards for successful candidates [6]. - **Enhancing Financial Support**: Encouragement for financial institutions to offer favorable loan products for manufacturing enterprises, with interest subsidies of 0.8% to 1.3% [6]. 6. Implementation of Logistics and Cost Reduction Actions - **Logistics Support**: Development of industrial logistics facilities and integration with manufacturing [6]. - **Cost Reduction Initiatives**: Optimization of electricity capacity and support for reducing costs in integrated circuit waste disposal [6]. 7. Market Expansion and Service Optimization - **Market Development**: Establishment of platforms for supply chain connections and support for enterprises in expanding into diverse markets [6]. - **Service Optimization**: Coordination of services to address enterprise needs and ensure the effective implementation of supportive policies [6].

Core Viewpoint - The Shanghai Municipal Government has issued a three-year action plan (2026-2028) to support the transformation and upgrading of advanced manufacturing, aiming to enhance the modern industrial system and promote collaborative development among enterprises of various sizes [1]. Group 1: Main Goals - By 2028, the plan aims to add 100 manufacturing enterprises with an annual output value exceeding 1 billion yuan, totaling over 600 such enterprises, and to drive the addition of 500 industrial enterprises above designated size in the supply chain [2]. Group 2: Implementation Actions - **Optimizing Traditional Advantage Industries**: The plan encourages traditional industries like petrochemicals and steel to innovate and expand into new materials, with financial support for qualifying projects [3]. - **Accelerating Leading Industry Strategies**: Support for integrated circuit companies to achieve breakthroughs across the entire industry chain, fostering internationally competitive leading enterprises [3]. - **Promoting Key and Emerging Industries**: Focus on developing new electronic information, smart connected vehicles, and advanced materials, while encouraging investment in emerging fields like low-altitude economy and commercial aerospace [3]. Group 3: Innovation and Technology - **Releasing Innovation Vitality**: Financial incentives for companies increasing basic research investments, with varying levels of support based on annual research expenditure [4]. - **Accelerating Core Technology Research**: Support for enterprises focusing on cutting-edge technologies such as laser manufacturing and quantum technology [4]. Group 4: Quality and Efficiency Enhancement - **Promoting Technological Transformation**: Financial support for projects aimed at upgrading production and R&D processes, with a cap on total support [4]. - **Deepening Digital Transformation**: Initiatives to enhance AI applications in manufacturing, aiming for full coverage of smart factory applications by 2028 [4]. Group 5: Resource and Support Actions - **Strengthening Talent Development**: Support for attracting high-level talent in key sectors, with financial incentives for successful candidates [5]. - **Enhancing Financial Support**: Encouragement for financial institutions to offer favorable loan products for manufacturing, with interest subsidies for key components and materials [5]. - **Expanding Logistics Support**: Development of industrial logistics facilities to integrate with manufacturing needs, enhancing transportation infrastructure [5]. Group 6: Market Development and Services - **Expanding Domestic and International Markets**: Establishing platforms for supply chain connections and promoting internet marketing for industrial enterprises [5]. - **Optimizing Enterprise Services**: Coordinating to address enterprise needs and ensuring that policies are effectively communicated and implemented [5].

Core Viewpoint - The Shanghai Municipal Government has issued a three-year action plan (2026-2028) to support the transformation and upgrading of advanced manufacturing industries, focusing on strategic leadership in pioneering industries [1] Group 1: Industry Focus - The plan emphasizes accelerating the development of the integrated circuit industry, targeting breakthroughs in equipment, advanced processes, photoresist materials, and 3D packaging to cultivate internationally competitive leading enterprises [1] - It highlights the importance of innovation in pharmaceuticals and high-end formulations, advanced medical devices, synthetic biology, and cell and gene therapy, supporting the growth of companies in these sectors [1] Group 2: Innovation and Technology - The initiative aims to deepen full-stack innovation and promote the rapid development of high-performance intelligent computing chips [1]