Shanghai to Strengthen Competitiveness

Shanghai will alter its development plan in the next five years to strengthen its competitiveness in all fields.

Wang Zhan, director of the Shanghai Municipal Government Development Research Center, made this remark at a symposium here today on Shanghai's prospects and challenges sponsored by the Hong Kong Chamber of Commerce in China.

Wang said that the city has pursued an "overtaking" strategy over the past decade, which has given a new look to the city's layout, functions and pattern of ownership. The development of non-state enterprises, and the local finance, real estate and hi-tech industries has helped Shanghai to weather the international economic fluctuations and will be the foundation of the new strategy.

Head of the city's panel for designing the 10th Five-Year Plan (2001-2005), Wang said Shanghai will take measures to promote innovative technology, cultural development and environmental protection.

He said that the aim within the next five years is to keep the rate of the local economy one or two percent higher than the national level.

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