New quality productive forces to power Shanghai's development
China DailyNew quality productive forces and further opening-up will serve as two major engines for Shanghai's high-quality economic growth, said officials of the Shanghai municipal government. "While continued efforts will be made to expand Shanghai's economy, the city will be dedicated to the construction of a modern industrial system and the development of new quality productive forces," Shanghai Mayor Gong Zheng said at the news conference. Traditional industries that make up a large part of Shanghai's economy, such as carmaking, steel and chemicals, should aim for digital and green transition by integrating with new technologies and novel business models, Gong said. To further nurture innovation in technology, which is crucial to the development of new quality productive forces, Shanghai will attach greater importance to basic research, giving full play to the 80-strong national level, high-end scientific research platforms and better supporting the 24,000 high-tech companies in the city.