The city also piloted reform of replacing turnover tax with value-added tax (VAT), seeking a breakthrough in a most significant finance and taxation reform in two decades. This reform was launched in a bid to lower the overall tax burden and boost certain sectors, such as service industries.
As the city's top official, another big test Yu received in Shanghai was the World Expo in 2010. The event that lasted six months attracted more than 73 million visitors from home and abroad, with record daily arrivals of 1.03 million.
Thanks to Yu's instruction of "check and improve our work every day," the Expo ended being an "astounding success," despite disorder during its trial operation. It won applause from Jean-Pierre Lafon, president of the International Exhibitions Bureau (BIE) at its closing ceremony.