{"id":206124,"date":"2025-11-29T07:29:08","date_gmt":"2025-11-29T07:29:08","guid":{"rendered":"https:\/\/www.europesays.com\/ie\/206124\/"},"modified":"2025-11-29T07:29:08","modified_gmt":"2025-11-29T07:29:08","slug":"shanghai-bets-on-manufacturing-to-buttress-finance-in-two-pronged-growth-plan","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ie\/206124\/","title":{"rendered":"Shanghai bets on manufacturing to buttress finance in two-pronged growth plan"},"content":{"rendered":"<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">Shanghai, mainland China\u2019s top finance and trade hub, is set to double down on efforts to prevent the \u201chollowing out\u201d of its manufacturing sector even as it pursues global financial centre status.<\/p>\n<p>The city\u2019s next five-year plan, which will cover the period from 2026 to 2030, is expected to contain measures designed to lift manufacturing\u2019s share of gross domestic product to no less than 25 per cent, in line with a <a target=\"_self\" class=\"e1yy41x40 ef9u0v01 css-1ankfgb ecgc78b0\" href=\"https:\/\/www.scmp.com\/economy\/china-economy\/article\/3331772\/chinas-vow-shield-manufacturing-aims-ward-industrial-decline?module=inline&amp;pgtype=article\" title=\"\" data-qa=\"BaseLink-renderAnchor-StyledAnchor\" rel=\"nofollow noopener\">national imperative<\/a> to bolster the real economy and promote cutting-edge technology.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">The move would make Shanghai one of the first major Chinese cities to include a specific goal for stabilising the manufacturing sector in its next five-year plan, and would run concurrently with a broader campaign to win the city recognition as a fully-fledged global financial centre by 2035.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">The latter goal was reaffirmed in a document released in June by the Communist Party\u2019s Central Financial Commission, a party organ headed by Premier Li Qiang that oversees China\u2019s vast financial holdings.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">\u201cShanghai officials are resolved to avoid the fate of economic hollowing out and the exodus of industrial enterprises, a phenomenon prevalent among some global cities as they develop into international financial hubs,\u201d said Fu Weigang, president of the Shanghai Institute of Finance and Law think tank.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">\u201cShanghai aims to have two legs of balanced growth: a competitive services sector like finance plus advanced manufacturing, to make the economy more resilient.<\/p>\n","protected":false},"excerpt":{"rendered":"Shanghai, mainland China\u2019s top finance and trade hub, is set to double down on efforts to prevent the&hellip;\n","protected":false},"author":2,"featured_media":206125,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[174],"tags":[79,381,13947,179,18,113171,57283,30055,113173,4202,19,17,113176,8887,14965,968,113172,2792,113175,113174,21653,82],"class_list":{"0":"post-206124","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-china","10":"tag-communist-party","11":"tag-economy","12":"tag-eire","13":"tag-financial-centre","14":"tag-five-year-plan","15":"tag-gross-domestic-product","16":"tag-hollowing-out","17":"tag-hong-kong","18":"tag-ie","19":"tag-ireland","20":"tag-jiefang-daily","21":"tag-li-qiang","22":"tag-manufacturing","23":"tag-new-york","24":"tag-real-economy","25":"tag-shanghai","26":"tag-shanghai-institute-of-finance-and-law","27":"tag-shanghai-institute-of-macroeconomics","28":"tag-smic","29":"tag-technology"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ie\/115631814251595237","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/206124","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=206124"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/206124\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/206125"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=206124"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=206124"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=206124"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}