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As an important initiative to implement innovation-driven development strategy, the city has achieved remarkable results in creating an innovation ecology. In 2019, the city's GDP reached about 201.16 billion yuan (.4 billion), an increase of 8.6 percent.

As a multinational company, we are delighted to help facilitate the upgrading of China's manufacturing industry and grasp the market opportunities generated by cooperation. The Belt and Road Initiative has also set a great example for international cooperation. This will strengthen the foundation for the long-term stable growth of the world's economy.

As both face pressure in operation revenue, cooperation could help each operator save 200 billion yuan in capital expenditures, Wang said at a mid-term performance news conference as reported by Sina Finance.

As for the modern service and advanced manufacturing industries, Shanghai will follow the country's opening-up policies in automotive, aircraft and shipbuilding industries so that "made in Shanghai" will become a celebrated signature, Li said.

As for multilateralism, Li said, it does not mean disrespect for country-to-country relations, but a promotion to the democratization of international politics.