Shanghai witnessed a bustling weekend with two major events highlighting its economic ambitions. The 2026 Appliance & Electronics World Expo (AWE 2026) opened on March 12, featuring an array of robots and AI elements that offered a glimpse into future smart homes. The event, often called the "Chinese CES," demonstrated potential to lead global trends. On March 14, the 2026 Shanghai Global Investment Promotion Conference commenced, where the city extended invitations to worldwide investors. Beyond the conference halls, Shanghai's strategic moves were evident in corporate discussions and increased investments in the region.

AI emerged as a central theme, signaling a shift of global future industry centers toward China and Shanghai. Both events were among the first held after the operational launch of the Eastern Hub International Business Cooperation Zone, located in Pudong, a area representing China's highest level of openness and serving as an engine for attracting innovative elements to Shanghai.

At the start of the "15th Five-Year Plan" period, these activities underscored Shanghai's intent to redefine its global position. Officials announced that Shanghai's GDP has entered the global top five, with further goals to become a "world-class socialist modern international metropolis." How prepared is Shanghai for this ascent?

Recent buzz around AI, colloquially termed "lobster" in market discussions, has spurred numerous success stories and prompted several cities to incorporate it into supportive policies. Shanghai actively participated in this trend, with frequent mentions of AI at the investment conference. However, the city emphasized long-term, orderly industrial development over hasty commitments.

MiniMax, a key player, saw its model ranked among the top three in daily and weekly usage charts of OpenClaw, forming a "lobster trio" with other Chinese models. During the conference, MiniMax founder and CEO Yan Junjie reflected on the company's growth, attributing it to Shanghai's open innovation environment and encouragement of open-source, public-benefit initiatives.

Shanshu Technology (Shanghai) Co., Ltd. CEO Luo Xiaoqu noted that AI is just one aspect of a broader industrial revolution driven by demand in China. He highlighted the potential for China's industrial advantages to accelerate AI development across hardware, software, and applications.

Shanghai has identified "ecosystem" and "end-devices" as critical focus areas. A dedicated summit on AI terminals signaled an impending boom in this sector. Liu Chunjian, founder and CEO of SixUnion Intelligence, pointed out that unlike previous eras dominated by Shenzhen, AI-era terminals could emerge across various industries, offering Shanghai new opportunities.

In October last year, Shanghai released an action plan to boost its intelligent terminal industry, targeting a scale of over 300 billion yuan by 2027 and mass production of AI computers, phones, and new terminals. The concurrent AWE exhibition complemented this vision by showcasing innovative applications.

The ecosystem is key to unlocking terminal potential. Wu Xucheng, Deputy General Manager of Shanghai Guotou Xiandao, referenced NVIDIA CEO Jensen Huang's "five-layer cake" theory of AI, noting China's strengths in the energy and application layers. Several new energy material companies announced expanded investments in Shanghai, enhancing its energy supply system.

Shanshu Technology, originally based in Beijing, recently established its new headquarters in Shanghai. Luo Xiaoqu cited Shanghai's accumulated expertise in integrated circuits as a fertile ground for AI development.

Beyond tangible infrastructure, intangible qualities bolster Shanghai's global competitiveness. Lanchi Ventures partner Cao Wei observed that despite discussions about Shenzhen's manufacturing edge, Shanghai retains advantages in innovation environment, corporate使命感, and global perspective.

International orientation is ingrained in Shanghai's corporate culture. Yan Junjie emphasized that from inception, MiniMax aimed to be a global company, with Shanghai being the ideal base for such ambitions. The city aims to cultivate world-class enterprises, a goal amplified as AI narrows global tech disparities.

In turn, Shanghai attracts high-end global elements. A Silicon Valley delegation attended the AI terminal summit seeking resources, while 15 tech companies from Silicon Valley and beyond participated in AWE, marking a rare collective "reverse" influx of U.S. entrepreneurs to China.

Shanghai's growing appeal as an innovation "magnet" provides a conducive environment for these elements. The Eastern Hub International Business Cooperation Zone offers visa-free entry for overseas talent, facilitating international participation. According to zone officials, it is a pioneering, special open area approved by the State Council, extending "first-line liberalization" to natural persons.

Openness is evident in details; domestic attendees can access the "in-country, out-of-customs" zone via QR codes, even during concurrent large-scale events. This facilitates broader institutional openness, promoting flows of talent, technology, capital, and data.

This aligns with Pudong's "leading area" mission, enabling Shanghai to pilot reforms and deepen global integration, making international resource inflows a norm.

Since surpassing 5 trillion yuan in GDP last year, discussions about Shanghai becoming the "world's top economic city" have intensified. The conference highlighted foundations for this climb, with emphasis on细分指标 beyond total economic output.

Key metrics highlighted include: Shanghai Port's top global container throughput, making it the largest goods trade hub; the world's highest number of coffee shops, reflecting quality of life; and 22 out of 59 indicators in the World Bank's 2025 China Enterprise Survey where Shanghai achieved global best practices in business environment.

These "flow"-related metrics underscore Shanghai's centrality in global resource networks, emphasizing its ability to integrate into and configure global industrial, innovation, and value chains.

Amid industrial upgrading and enhanced openness, Shanghai seeks to optimize its global city coordinates. Officials stated that leveraging national strategic tasks, the city will advance pioneering reforms and open policies to build a globally competitive service system.

Industrially, Shanghai's approach is more focused. Following previous conferences that outlined future industries and provided spatial and financial support, this year introduced 31 "new-quality elements"—11 public service platforms, 10 specialized pilot platforms, and 10 benchmark application scenarios—aiming to match top resources with key industries through granular policies.

For AI, Shanghai established the largest computing power调度 platform domestically, offering 1 billion yuan in annual computing vouchers to address access challenges for large firms and cost issues for SMEs. It also launched the first national语料 operation platform to supply high-quality data for model training.

Companies recognize Shanghai's connectivity. Zeiss Greater China President and CEO Fei Mingyuan noted that Zeiss's "two centers, two highlands" strategy in China includes a high-end equipment hub in the Yangtze River Delta, with expansions in Shanghai and Suzhou.

Such synergy may expand further. The draft Shanghai Metropolitan Circle Spatial Plan (2025–2035) recently proposed enlarging the circle to include Hangzhou, Yancheng, Taizhou, Shaoxing, and Xuancheng.

While Shenzhen remains a frequent comparator, Shanghai's focus is on its unique mission. Experts stress the importance of harnessing the core functions of its "five centers"定位. Maintaining strategic focus and excelling in its own path define Shanghai's essence.