Shanghai will invest 69 billion yuan (US$10.9 billion) this year to upgrade industrial technology to transform its economy, the city government said on Tuesday.
The technology upgrade also embraces software, patent and testing besides manufacturing, said the Shanghai Municipal Commission of Economy and Information Technology, the local industry regulator.
By the end of 2018, Shanghai will have 1,700 technology upgrade projects covering smart manufacture, new energy car, intelligent car, China-developed airplane and next-generation information technology.
New technologies like artificial intelligence, the Internet of Things and cloud computing are expected to become new catalysts to accelerate Shanghai's economic transformation and upgrading, said the commission.
More investment will be made to upgrade technology on new energy car and e-commerce in Songjiang and Jiading districts, said Chen Mingbo, chairman of the commission.
