Session on better role of high-end industries

The Shanghai People's Congress held a special session for lawmakers to share their views and suggestions on strengthening the leading role of high-end industries in promoting high-quality economic development.

”High-end industries are an important support for promoting high-quality economic development and upgrading the city's capacity and core competencies," said Wu Jincheng, director of the Shanghai Commission of Economy and Informatization.

Last year, Shanghai focused on industrial transformation and improving quality and efficiency of growth, pushing forward the development of modern service industries, strategic emerging industries and advanced manufacturing. 

The city will make further efforts to promote high-end industries, which will continue to play the leading role in boosting economic growth, Wu said.

Ren Zhongming, a lawmaker from Baoshan District, suggested the government launch policies to encourage social funds to flow into hign-end industries.

A more open and fair environment should also be built, Ren said.

Meanwhile, Liu Xinyi, a deputy from the Huangpu District, called for the construction of financial technology innovation laboratories and incubation bases. 

“We hope that the government will support financial institutions and technology companies to cooperate with universities, research institutes and other institutions to build laboratories, incubators and accelerators for the fintech industry," Liu said.