Shanghai vows deeper reform

A meeting was held in Shanghai this week to review the city's achievements in the field of economic reform, and look towards the development of a blueprint for the city's economic future.

China's President Xi Jinping during an earlier meeting in Shanghai in 2017. [File Photo: Screenshot from CCTV news]

The meeting held on Tuesday highlighted President Xi's view that Shanghai, China's biggest economic hub, will play an essential role in the country's ongoing effort to promote trade and investment liberalization.

The city's free trade zone, which was established in 2015, has been a sandbox for the development and testing of reform policies.

Tesla CEO Elon Musk during an interview with CCTV News in Shanghai. [File Photo: Screenshot from CCTV News]

Foreign investment in Shanghai doubled last year. One of the most high-profile examples of the growth in foreign investment was the announcement by Tesla that the company would build a Gigafactory in the city. The plant will be the largest single foreign investment into a manufacturing project in China.

Chen Jie, the deputy director of Shanghai's Lingang district management committee. [File Photo: Screenshot from CCTV News]

"China's gate remains open to the world, and foreign companies will inject vitality here by cooperating with local companies," said Chen Jie, the deputy director of the city's Lingang district management committee, during an earlier interview with CCTV News.

ABB Group President Ulrich Spiesshofer during an interview with CCTV News in Shanghai. [File Photo: Screenshot from CCTV news]

Zhang Suxin from the Shanghai Huahong Group during an interview with CCTV News in Shanghai. [File Photo: Screenshot from CCTV news]

ABB Group was one of the earliest foreign investors to bring automation and artificial intelligence technology to Shanghai, and company President Ulrich Spiesshofer has talked about the importance of innovation. Zhang Suxin, who was representing the electronics manufacturer Shanghai Huahong Group, also emphasized innovation during an earlier interview with CCTV News. "We will continue to invest into the innovation field," he said. "With the enlargement of investment input, we will upgrade Shanghai's R&D capability."

Ma Chunlei, the deputy secretary-general of the Shanghai municipal government, during an interview with CCTV News in Shanghai. [File Photo: Screenshot from CCTV news]

Shanghai has rolled out a three-year plan to improve the city's urban management. Ma Chunlei, the deputy secretary-general of the Shanghai municipal government, said that the guidance from President Xi will help to move the plan forward.

Residents of a local community in Shanghai. [File Photo: Screenshot from CCTV news]