Shanghai aiming to double per capita GDP by 2035

Shanghai unveiled its development goals for 2035 on Monday, with the central aim being the doubling of its per capita GDP from 2020 levels. The drafters of the goals believe this will firmly establish Shanghai as a modern, socialist international metropolis with global influence.

The city also wants to enhance its "five centers" to international leading standards by 2035, significantly boosting its urban capacity and core competitiveness.

The objectives were announced during the eighth plenary session of the 12th Shanghai municipal committee of the Communist Party of China as part of the city's 15th Five-Year Plan (2026-30). The meeting emphasized the importance of innovation-driven and coordinated development.

Shanghai aims to strengthen its position as an international economic center by building a modern industrial system anchored by advanced manufacturing and high-quality, efficient service industries. The city will also implement strategies to expand domestic demand and foster world-class enterprises.

To enhance its role as an international financial hub, Shanghai plans to accelerate the establishment of a global RMB asset allocation center and a risk management center, as well as improving its modern financial system to better serve the real economy. The city also intends to upgrade its international trade center by fostering innovation, transforming structures and strengthening global supply chain management.

In addition, Shanghai aims to build a leading international shipping center, reinforcing its status as a global maritime and air hub, and advancing modern shipping services through digital, intelligent and green transformations. The city will also bolster its role as an international science and technology innovation center, focusing on original innovations and breakthroughs in key technologies, and promoting the integration of technological and industrial innovation.

The meeting also highlighted the need for Shanghai to deepen high-level reform and opening-up, establishing a new system for an open economy. According to planners, the city will serve as a testing ground for key regional reforms, align with international high-standard trade rules, and pursue comprehensive, high-level opening-up across various domains.