Financial World reported on December 22, 2024, that Shanghai Low-Altitude Economy Industry Development Co., Ltd. has officially been established with a registered capital of 900 million yuan.
The company is jointly funded by Shanghai state-owned capital and listed state-owned enterprises such as China Telecom, with shareholders including China Telecom and Shanghai Airport (Group) Co., Ltd., which are part of the Shanghai State-owned Assets Supervision and Administration Commission.
The legal representative is Song Xuefeng, who has previously held positions such as vice president and chief financial officer at the Shanghai Airport Group.
The Shanghai municipal government plans to expand the core size of the low-altitude economy to over 50 billion yuan by 2027, aiming to create an internationally influential “City in the Sky.”
