Wendy Zhang/ Shanghai Daily news

Shanghai's medical insurance system covers all of the city's residents, said Shanghai Mayor Han Zheng when meeting with Pfizer Inc. CEO Jeffrey Kindler yesterday morning.
Mayor Han congratulated Pfizer Inc. for holding its global board meeting in Shanghai for the first time. The resident population in the city has hit more than 20 million, with 17.8 million permanent residents. The proportion of middle-aged and elderly people is on the rise, so people are focusing more on medical insurance, Mayor Han said.
Shanghai is attaching a greater importance to life science research and has drawn up a three-year health plan for residents, Han said.
Shanghai's abundant talents and well-performing service sector has attracted more overseas companies, but the city suffers from steep land and business costs, Han pointed out, adding that the city will create more chances for foreign-invested companies in the future.
Pfizer is optimistic about Shanghai's future development by moving its Chinese headquarters and R&D center to the city, said Jeffrey Kindler. Pfizer has produced a new drug in the city that helps people quit smoking, and expects to release it onto market before the 2010 World Expo.