Shanghai aims to expand industrial internet sector

By accelerating the in-depth integration of the digital economy and the real economy, Shanghai is planning to expand the scale of its industrial internet sector to 200 billion yuan ($27.3 billion) by 2025, according to official sources.

Shanghai is at a critical point of its industrial transformation and upgrading, and it is necessary for the city to take a lead in the digital transformation of the manufacturing industry as digitalization will facilitate Shanghai's manufacturing branding and the establishment of a modern industrial system, said Chen Jie, vice-mayor of Shanghai during a meeting on manufacturing industry's digital transformation on Wednesday.

To be specific, at least 80 percent of the city's manufacturing enterprises above a designated size, or with an annual revenue of 20 million yuan or above, would make their digital transformation by 2025, according to an implementation plan on Shanghai's manufacturing sector's digitalization issued by the end of last year.

Further, the city looked to have its industrial internet's core industrial scale reach 200 billion yuan, as well as lead the manufacturing industry transformation through various efforts including building ten pilot demonstration parks, 20 benchmark smart factories and 30 industrial internet platforms, the plan added.