Shanghai to promote 'real economic growth'

Shanghai authorities have vowed to encourage real economic growth by supporting innovation, entrepreneurship and effective market-oriented business conditions.

The incremental growth of strategic emerging sectors will account for 20 percent of the city's GDP and output of strategic emerging sectors will account for 35 percent of gross industrial output value in Shanghai, according to Chen Mingbo, director of the Shanghai Commission of Economy and Information.

"There used to be a debate over whether Shanghai, a metropolitan and a financial center, needs an industrial sector and manufacturing. The answer, we can say now, is yes - Shanghai needs manufacturing and industrial enterprises, and we are making them innovation-driven, high value-added ones," said Chen.