Innovation key for city to fulfill its missions

Shanghai will work hard this year to play a better role in serving China's reform and opening-up, Shanghai Party Secretary Li Qiang said at a meeting of the Shanghai Committee of the Chinese People's Political Consultative Conference.

"We have obtained new growth opportunities this year after the city was assigned three missions," Li said.

These are expanding the China (Shanghai) Pilot Free Trade Zone, the establishment of a Nasdaq-style board for technological companies, and better integration of the entire Yangtze River Delta region.

Li said innovation was key if the city was to fulfill the three missions.

Setting up high standards would pave the way for their implementation.

"We need to work hard and work together to paint a new chapter for Shanghai's reform and opening-up, as well as for the country as a whole," Li said.

During the meeting, Tu Haiming, a member of the Shanghai committee of the CPPCC, said one key point in the lifting of Shanghai's growth quality is to improve land management, especially land allocated for manufacturing.

He suggested closer monitoring of the efficiency of land use. Chen Dawu, another political adviser, said Shanghai should formulate new industrial standards to guide companies in updating their products and services.

At the same time, these standards should not be carried out in the style of administrative orders.

For the proposed Nasdaq-style board for technology companies, adviser Qian Shichao said the city should roll out a set of new standards to define technological companies that have core competitiveness. Meanwhile, there should be a reasonable exit system to guarantee the quality of the board.