Shanghai is solidifying its position as a global innovation hub. In 2024, the scale of its three leading industries—integrated circuits, biomedicine, and artificial intelligence (AI)—reached 1.8 trillion yuan, with their industrial output value growing by 11.9%. This growth reflects Shanghai’s commitment to industrial upgrades and cutting-edge development.

To sustain momentum, the city welcomed 60 new regional headquarters of multinational corporations and 30 foreign-funded R&D centers, bringing the totals to 1,016 and 591, respectively. Additionally, Shanghai’s 150 reform initiatives have reduced enterprise costs by over 116 billion yuan, boosting market vitality.

This year, Shanghai is prioritizing advancements in AI, robotics, intelligent terminals, and biomanufacturing, creating new opportunities in emerging fields. Significant investments from Toyota, IKEA, and Apple further reinforce Shanghai’s appeal as a hub for innovation. Discover how the city is driving high-quality, resilient development in this exclusive interview with Zhan Yubo from the Shanghai Academy of Social Science.