Yuqiao Innovation Cluster
Shanghai is revered by peer cities around the world for its extraordinary growth, energy, and vibrancy. Despite this enviable reputation, it is a remarkably conservative city, having made its wealth via conventional business sectors including heavy industry, banking, and finance. Understanding the impact that disruption and bold new ideas are to remaining relevant in a competitive global marketplace, Shanghai is attempting to reinvent itself as an innovation capital. In 2014, President Xi Jinping tasked Shanghai with becoming a “globally influential center for technical innovation.” As a result, 3.8% of the city’s GDP was earmarked for R&D, with the goal of having “strategic new industries” responsible for 20% of GDP by 2020. Sasaki’s master plan for the Yuqiao Tech District is a direct result of Shanghai’s amplified focus on becoming a global tech leader that rivals Silicon Valley and Silicon Alley.
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