A report on the city's high-technology companies was released on Friday at the Innovation and Entrepreneurship Forum, as part of the Pujiang Innovation Forum.
According to the report, industrial giants such as Shanghai Huawei Technology Co account for no more than 0.6 percent of the city's high-tech companies, but their spending on research and development contributes to 34 percent of the total in the city.
Also, they pay more attention to electronic information, biological medicine, advanced manufacturing and high-tech service, according to the report, released by Shanghai University and Shanghai Technology Innovation Center.
Lu Min, deputy director of Shanghai Science and Technology Commission, said Shanghai is attracting more international capital and talent, continuously invigorating China's scientific and technological innovation.
Wang Shi, founder of China Vanke Co, said he's impressed by Shanghai's urban management, especially during the COVID-19 pandemic.
"Shanghai's business environment and market is so good," he said. "I'm so thankful that my company entered Shanghai in early times."
Today, as well as an innovation environment, humanistic spirit is also important for a city to attract talent, and Shanghai is expected to improve the overall environment, he added.