Universal Software Park marks 2 decades of stellar growth

The Universal Software Park, the city's major computer science industry park, celebrated its 20th anniversary on Monday, highlighting significant growth in tax revenue and productivity in recent years.

The park in Changzheng Town, Shanghai's Putuo District, has evolved into a major innovation hub since its founding on November 11, 2004.

The park has generated more than 3.5 billion yuan (US$484 million) in tax revenue in 2023 and reached an annual production value of 30 billion yuan, according to the park.

The park attributed the growth to a diversified technology focus, which has expanded from software to clusters like artificial intelligence, fintech, digital marketing and online gaming.

The software park now hosts over 50 companies with annual revenues exceeding 100 million yuan each, drawing tech firms from across China. Since its inception, the park's cumulative tax contribution has exceeded 19.3 billion yuan, driving the economic growth of Putuo.

In March, a new incubator was launched in the park to support online gaming firms, attracting 12 companies to the park.

On-site facilities have also been upgraded to support a better business environment, with a new monitoring station to ensure compliance with legal business practices, according to the park.

Xiao Wengao, the director of Putuo, said the park has become a key example of the district's industrial transformation with research and innovation. He said more high-tech companies from both home and abroad are expected to be drawn to the park.