A forum designed to explore how innovation could spearhead economic development was held in Changyang Valley of Shanghai’s Yangpu district on Oct 25.

Organized by Beijing-based Economic Daily and co-hosted by the regional government of Yangpu and the newspaper’s think tank, the forum gathered government officials, economists and researchers who discussed about Yangpu’s future development.

“Innovation has become Yangpu’s unique trademark and brand that leads to rapid economic development,” said Xie Jiangang, governor of Yangpu, at the forum. “The district’s fiscal revenue increased from 1.7 billion yuan ($244 million) in 2002 to about 12 billion yuan in 2017, maintaining a leading growth rate in downtown Shanghai.”

According to Xie, Yangpu plans to increase the floor area of its commercial buildings to more than 11 million square meters, including 3 million sq m of high-end buildings used as theaters, concert halls and art galleries near the Bund.

Moreover, the district will improve traffic facilities by building more tunnels and elevated freeways.

The deputy editor-in-chief of Economic Daily Lin Yueran and the Party secretary of Yangpu district Li Yueqi also jointly launched a strategic cooperation initiative at the forum.

“The forum is an important arm for Economic Daily to serve the local economic development and to promote the cooperation between the State-run media and Yangpu government,” Lin said.

“We hope to expand the influence of Yangpu’s innovation and attract more resources from the outside world to the district.”