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Shanghai's economic role set to expand

Shanghai should better connect domestic and international markets in order to improve its high-quality development and facilitate China's deepened round of reform and opening-up, according to the proposed new five-year plan and development goals for 2035 released on Thursday.

Shanghai's proposed 14th Five-Year Plan (2021-25) says that high quality will be the highlight of its future economic development through strengthening the city's four major functions-allocating global resources, initiating technological innovation, leading development of high-end industries and opening up as a hub. Those functions were stressed by President Xi Jinping during his visit to Shanghai in November 2019.

Shanghai Party Secretary Li Qiang said that the functions of a megacity like Shanghai go far beyond what is required within the city itself. Shanghai's role involves a wider area, including participation in global cooperation and competition on behalf of the country, Li said.

(This article is an extract from China Daily)

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Source China Daily


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