Shanghai aims to establish a cluster of leading global service providers with headquarters in the city.

The plan was announced at a municipal executive meeting on Jan 8 presided by Mayor Gong Zheng, which reviewed the mid-term evaluation of the 14th Five-Year Plan for the Service Industry in Shanghai (2021-2025).

Participants at the meeting stressed the importance of attracting world-class service institutions and supporting the professional and international development of local entities. The aim is to cultivate a cohort of global service institutions based in Shanghai, thereby creating a focal point for global talents in the service industry.

The meeting highlighted the necessity of advancing the integration of modern service industries with advanced manufacturing.

Specific efforts were underscored to elevate the standard of financial services, foster new trade formats, nurture high-end shipping service brands and drive the development of technology services.

The participants also emphasized the need to expedite the development of emerging service sectors, including productive services and professional services.

Source: jfdaily.com