The construction of Shanghai’s global science and technology innovation centre is accelerating, with overseas investment and international talent crucial to the long-term strategy.
 
This is according to Shanghai’s vice mayor Wu Qing whilst speaking on an online conference.
 
Along with the vice mayor, also in attendance at the Shanghai-themed conference were officials from the National Development and Reform Commission, the Ministry of Science and Technology and the Chinese Academy of Science, highlighting the country’s support for Shanghai’s innovation-led initiatives.
 
"Shanghai is speeding up global science and technology innovation centre construction, with enhanced innovation resource concentration, science achievement influence, emerging industry leadership, innovation environment attractiveness, and its regional driving influence," stated Lin Nianxiu, vice director of the Development and Reform Commission.
 
Shanghai, along with Beijing and the Guangdong-Hong Kong-Macau Greater Bay Area will become global science and technology innovation centres, whereas Shanghai's Zhangjiang, along with Huairou, Hefei, and the Greater Bay Area are four national innovation centres.
 
Wu Qing added that Shanghai has attracted businesses in the fields of biomedicine, chips and artificial intelligence to construct its own industry chain and innovation ecosystem. The city is due to invest 4.5% of its GDP into research and innovation by 2025.
 
The vice mayor went on to say that Shanghai has always been the "most attractive city" in the country over the last eight years among overseas talent, and will boast around 560 multinational research centres by 2025, compared to 500 now.
 
Moreover, the city will ease more policies to appeal to talent from overseas, particularly people who can contribute to Shanghai’s global innovation centre construction. These include relaxed work permit application conditions, as well as age and academic degree requirements, according to the science and technology ministry.