Panorama of the Shanghai Bond. (Photo: SHFTZ Office)
Shanghai - A United States-based manufacturing incubator and industry association has become the latest to join the ever-expanding base for global manufacturers at Pudong's Waigaoqiao bonded area.
On Thursday, the Shanghai technology center of the Association for Manufacturing Technology (AMT) officially moved to the Waigaoqiao International Machine Tools Center (IMT) in the city's free trade zone.
AMT, as an incubator, has introduced more than 150 American manufacturers to the domestic market in the last 13 years. More than 80 percent of them have now set up base here, alongside building manufacturing plants.
Douglas Woods, AMT president, revealed the reason behind the association's move to Waigaoqiao, saying that IMT boasted a cluster of companies involved with the whole industry chain and it also provides services from training technicians to introducing potential customers. Currently, 36 AMT members have set up their offices in IMT.
Yao Zhong, deputy general manager of Shanghai Waigaoqiao Free Trade Zone Group Co, said that IMT was set up not only to introduce good foreign manufacturers but also to help local counterparts to be competitive in the world market.
Founded in 2009, IMT is now home to more than 140 manufacturers from home and abroad. Last year, its total volume of imports hit US$3.5 billion, Yao revealed.
