The story appears on

Page A2

December 22, 2010

GET this page in PDF

Free for subscribers

View shopping cart

Related News

Home » Metro » Society

Shanghai fund to boost economic restructuring

Shanghai is to set up a 10 billion yuan (US$1.5 billion) fund next year to offer subsidies to research, financial and innovation projects to facilitate the city's economic restructuring drive, top officials said yesterday.

Shanghai will continue to focus on innovation in all aspects of social and economic development next year, speed up the pace of economic restructuring while also improving its urban management to ensure better public safety, Mayor Han Zheng told a two-day plenary meeting of the Shanghai Committee of the Communist Party of China, which ended yesterday.

The mayor said stabilizing the price of daily necessities and reforming the health care systems to reduce medical expenses will be high priorities for the government next year.

"Now it is time for Shanghai to carry out its economic restructuring and reforms based on innovation," Han said, when outlining the city's major development goals for 2011, the first year of a new five-year plan.

The government plans to improve incentives for housing, social security, medical care and education to encourage more overseas and non-local professionals to work in Shanghai. Han also said the government wants to create better visa policies for overseas professionals.

An expanding IT-communications infrastructure and convergence of the three networks (TV, telephone and Internet) will also help make Shanghai into an "Intelligent City" with fast and widely available Internet-based information services, he said.

Broadband networks will be installed in all new residential and office complexes that will start construction next year. And the government will also boost the digital publication industry, e-book business and support projects involved in online problem-solving technology.

The mayor told the meeting the city is aiming for a gross domestic growth rate of 8 percent next year.

Meanwhile, the city plans to rein in its unemployment rate at about 4.5 percent, similar to this year's level.

The local consumer price index will have risen by 3 percent at this year's end from a year earlier, according to local authority estimates, and the government has promised to work out a package of measures to curb inflation growth next year, especially food prices. Local watchdogs are to increase the size of cultivable land in the suburbs and also streamline supply chains to lower the final selling price to consumers.

As one of the cities named by the central government to carry out medical care reforms, Shanghai will finalize and publish its reform blueprint by next March to seek public opinions, the mayor said.

Shanghai will improve medicine bidding, purchase and distribution operations so that residents will see big cuts in drug prices and medication costs at hospitals, he said.


Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.

沪公网安备 31010602000204号

Email this to your friend