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Shanghai's Top Three Industries Surpass 1.8 Trillion Yuan in Scale
2025-01-15
On January 15, 2025, the third session of the 16th Shanghai Municipal People's Congress commenced. The government work report highlighted that Shanghai's three pioneering industries—integrated circuits, biomedicine, and artificial intelligence—have achieved a combined scale of 1.8 trillion yuan. The city's R&D expenditure as a percentage of GDP stands at approximately 4.4%, while the number of high-value invention patents per 10,000 people has risen to 57.9. In 2024, Shanghai launched a 100 billion yuan master fund and a future industry fund dedicated to these three leading sectors, with the objective of directing financial capital towards supporting early-stage, small, long-term, and hard technology enterprises.
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