Shanghai to shore up manufacturing while eyeing global financial status

Shanghai, mainland China’s top finance and trade hub, is set to double down on efforts to prevent the “hollowing out” of its manufacturing sector even as it pursues global financial centre status. The city’s next five-year plan, which will cover the period from 2026 to 2030, is expected to contain measures designed to lift manufacturing’s share of gross domestic product to no less than 25 per cent, in line with a national imperative to bolster the real economy and promote cutting-edge...