Mayor pledges 100 b yuan for city's key industries

SHANGHAI - Focus, talent, communication and information technology hold the key to Shanghai's success, high-profile corporate leaders said during an annual business meet on Sunday.

About 80 leaders of some of the world's largest companies, including HSBC, Tesco, Danone and Novartis, participated in the 22nd International Business Leaders' Advisory Council for the Mayor of Shanghai, this year themed "to build Shanghai as a vibrant and innovative city".

In his address, Shanghai Mayor Han Zheng stressed the importance of innovation as the city aims to become the world's financial and shipping center and committed to invest 100 billion yuan ($14.99 billion) in key industries including new IT, biology, high-end manufacturing and new energy over the next three years.