Shanmugam also said that China's system selects competent, good people in the government, and that not enough credit is given to China's major achievement of lifting hundreds of millions of people out of poverty over the past three decades.
Shanghai will prioritize the development of AI in the realms of autonomous driving, robots, smart hardware, sensors, chips and software, Wu said. The city is planning to draft an AI development roadmap to expand industry influence and leverage the city's Xuhui and Zhangjiang areas as two leading spots.
Shanty town areas will be dismantled to provide space for parks, greenland, public squares, and public parking lots.
Shares of Amazon were up slightly in after-hours trading following the announcement. Over the past three months, shares are down more than 25 percent.
Shares of DocuSign and Smartsheet rose initially but have returned to their IPO range in the past few months, part of the fourth-quarter stock market downturn. Shares of Avalara and nLight are down about a third since their IPOs.
Shares of Ctrip have dropped billion in valuation this year.
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Shanghai's new sci-tech STAR Market, which is compared to Nasdaq, got off to a sparkling debut on July 22, but the real deal for long-term investors is in the deeper market-based reforms the new board seeks to advance.
Several ambulances were also ready to help worshippers if necessary.
Shanghai and Hong Kong are the only two cities in China that made it to the top 10, ranking seventh and ninth respectively. Shenzhen is in 19th place while Beijing is ranked 23th.
Several key members, including Zhang Tianming, the mastermind of Shanxinhui, are suspected of obtaining illegal gains of more than 2.2 billion yuan (337.22 million US dollars), according to the Ministry of Public Security.