According to the Shanghai Technology Innovation Center Construction Report 2019, Shanghai’s overall R&D spending as a percentage of GDP was 4% last year, above the national average of 2.23%. There were more than 5,961 newly certified high-tech companies, with over 12,000 high-tech companies, and a total of 2155 science and technology giant companies (science and technology innovation SMEs with high growth potential or great development potential). Total investment of the integrated circuit industry in Shanghai was over 300 billion CN¥, the number of enterprises over 600, accounting for about 20% of China. The biopharmaceutical industry in Shanghai increased by 11.6% to 38,3 billion CN¥, accounting for 7.4% of China, and 1/4th of new drugs was developed here.

Japan JST China news, December 4, 2020