At a recent meeting themed around Shanghai’s business environment in 2021, Zong Ming, deputy mayor of Shanghai, held a discussion with officials from the foreign Consulate General in Shanghai and representatives of foreign trade institutions in Shanghai.

Scientific city management has made Shanghai one of the safest cities in the world, especially in terms of the coronavirus pandemic control.

In 2021, Shanghai's GDP, consumption, and imports and exports all achieved positive growth. Shanghai’s new development momentum continues to grow, with the total output value of industrial strategic emerging industries accounting for 40% of the total output value of industries that have a sales value of more than 2 million yuan. The goal of building Shanghai into an international economic, financial, trade, and shipping center has been basically completed. The proportion of R&D expenditure is equal to 4.1% of the city’s GDP.

Foreign investment in Shanghai last year grew by 6.2% while global foreign direct investment fell by 42%. The total number of multinational regional headquarters and foreign-funded R&D centers reached 771 and 481 respectively, and overseas talent reached about 200,000. Amid the pandemic, the transaction value of the third CIIE achieved a growth of 2.1%, showing that global investors continue to be optimistic about China and Shanghai.