Shanghai Minhang Economic and Technological Development Zone, known as the smallest of its counterparts, was established in 1983 with a planned area of merely 3.5 square kilometers and was promoted to national level by the State Council in 1986.
In 2006, the development zone expanded 13.3 sq km in Lingang Area to double down on modern equipment and advanced manufacturing industries.
To date, the zone has shaped an industrial layout featuring advanced manufacturing (high-end equipment, biological, new materials and more) and producer services, especially for the R&D centers and regional headquarters of the world's top 500 multinationals who have invested in over 40 percent of the local enterprises. The economic powerhouse has become part and parcel to the southern center of Shanghai's technological innovation.
According to the official statistics of 2017, Minhang Economic and Technological Development Zone's industrial output reached 54.15 billion yuan ($7.85 billion) while the profits of industrial enterprises recorded 5.24 billion yuan. The sales revenue and tax revenue were 59.63 billion yuan and 5.13 billion yuan, respectively.