Praise for city's industrial structure
Shanghai has developed a better industrial structure which helps the city gain more international competitiveness, according to a report released on Friday by the Shanghai Academy of Social Sciences.
It says a more diversified industrial composition, stronger growth in some key sectors featuring high technology, accelerated integration of industrial chains in the Yangtze River Delta region and more collaboration in the region have optimized the city’s industrial structure.
“The theme words are 'industrial chain upgrade and regional coordination' for this year,” Tang Yunyi, director of the Research Center of New Economy and International Industrial Competitiveness under the SASS, said at the 2019 Industrial International Competitiveness Cooperative Forum.
“Shanghai has managed a faster upgrade with more efficient resource allocation, which in part benefited from an early start of structural adjustment across the city’s industries,” Tang said.
The report found Shanghai has a good industrial chain in sectors such as new-energy vehicles, information technology, exhibitions, new materials and biomedicine, but it still has room to improve in shipping services, electronics, manufacturing and domestic aviation.
“With closer cooperation in the Yangtze River Delta region, we are confident the industrial structure in Shanghai and in neighboring cities will continue to integrate and then improve,” Tang said.
The report, which has been produced each year since 2017, suggested deeper collaboration in the region with more considerate resource allocation for a sustainable, high-quality and balanced growth in Shanghai and beyond.