China's leading industrial and commercial city, Shanghai, will take a series of measures to boost innovation this year as part of its efforts to become a key international city.

An official with the Shanghai Municipal Scientific and Technological Commission said that the city aims to generate 110 billion yuan in high-tech industrial output this year.

Priority will be given to creating 1,000 high-tech enterprises and developing new technologies and products in the industries of information technology, life sciences, and new materials, the official said.

Two special funds will be established to finance joint innovation projects by universities, research institutes and enterprises.

About 500 million yuan is to be allocated to accelerate the development of the Zhangjiang High-Tech Industrial Park in the Pudong New Area.

The city will also transform 92 local technological development institutes into high-tech enterprises.