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China: A first-class global financial city in Lujiazui by 2025

Sunday, 15 August 2021
The 14th Five-Year Development Plan of China's Lujiazui District The 14th Five-Year Development Plan of China's Lujiazui District Shanghai plans to further attract global asset management firms in Lujiazui

#Vision, Dubai United Arab Emirates:- According to the 14th Five-Year Development Plan of China's Lujiazui District, Lujiazui aims to host more than ten thousand different financial institutions by 2025, with Shanghai planning to build Lujiazui District into a first-class international financial city.

The plan stipulates that the value added of the financial industry will increase from 50 percent of the city's total recorded last year 2020, to more than 55 percent in 2025.

Shanghai also aims to increase its attractiveness to global asset management companies, and to invite a group of the best mentioned companies to settle there.

During the five-year period, Lujiazui will promote its three major advantages of high-level internationalization, complete ecological environment and best business services, said Liang Cheng, deputy director of the Lujiazui Administration Office of Shanghai Pilot Free Trade Zone.

At the beginning of 2021, Shanghai issued "Advices on Comprehensive Strengthening of Digital Transformation of Shanghai" to advance the overall digital transformation of "Economy, Life and Governance", with the aim of Shanghai becoming an influential international digital capital in the world by 2035, and the implementation of the "Shanghai Plan" was approved. for artificial intelligence.

Steady progress has been made in the establishment of the pilot zone for the development of national new-generation AI innovation and the pilot zone for innovative applications, and three successive global AI conferences have been successfully held, which laid a solid foundation for building high-level AI and forming a world-class industrial group in Shanghai during the five-year plan period. The 14.

Since 2020, there have been 1,149 major AI companies in Shanghai, making up a relatively complete AI industry chain.

The volume of the industry is above the set volume for this year, reaching 224.6 billion yuan, achieving a growth rate of nearly 50 percent.

Wu Jinzheng, director of the Shanghai Municipal Commission of Economy and Information Technology, said in previous statements that AI and urban digital transformation are mutually reinforcing and organically complementing.

He added, "Artificial intelligence is an important driving force for the digital transformation of cities, on the one hand, and on the other hand, digital transformation of cities provides better opportunities, a huge platform, and provides more scenarios for the development of artificial intelligence."

Shanghai has embarked on a new exploration of "micro-management unit" management, and strives to realize intelligent operation from building to street to city-wide. The results of the second phase innovation of the "micro-management unit" of urban digital governance in Shanghai, released on July 7, show that Shanghai has currently established 12 urban intelligent innovation scenarios, and 58 environmental partners have joined in urban digital transformation.