Authorities to work toward building the 'Shanghai Service' brand

Shanghai will take concrete steps to improve services for sectors including finance, shipping and technology innovation in a bid to develop the brand of “Shanghai Service”, according to officials.

“Shanghai Service” is part of the city’s strategy to accelerate the development of its modern economy and attain a high quality of life by building the “four brands of Shanghai” – services, manufacturing, shopping and culture.

“As the country’s financial center, the core competitiveness is its service industry,” said Ma Chunlei, secretary-general of the municipal government and deputy director of the Shanghai Municipal Development and Reform Commission.

“About 70 percent of the GDP in Shanghai is contributed by the service sector,” he added.

Li Jun, deputy director of the Shanghai Financial Services Office, said: “The financial market of Shanghai is already a famous brand in the world, with total transactions hitting 1,428 trillion yuan ($225 trillion). The next step would be to perfect the financial services and introduce more new brands such as the New Development Bank that is headquartered in Shanghai.”

Zhang Lin, deputy director of Shanghai Municipal Transportation Commission, pointed out that the commission is planning to upgrade the Huangpu River Cruise to a world-class level as part of efforts to improve the Shanghai service brand. Authorities are also planning to improve the facilities of the 45-kilometer waterfront trail along the Huangpu River.