Shanghai is working on a developmental plan that will cost the city up to 835.52 billion yuan ($127 billion). The plan will include the launch of 100 major projects in 2016.

According to China Securities Journal, the plan was was revealed during the "two sessions" meeting which began on Sunday. The 100 major projects that will be opened in Shanghai this year includes seven projects that will integrate both urban and rural development, 16 on society, 22 on industrial and 55 on infrastructure.    

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The "Two sessions" is an annual meeting between the local legislature, the Municipal People's Congress and the Municipal Committee of the Chinese People's Political Consultative Conference.

According to the draft of Shanghai's 13th Five-year plan, by 2020, at least 20 percent of Shanghai's total output value will come from the value added output of strategic emerging industry, while 25 percent from the manufacturing industry. 

According to the Shanghai Municipal Statistics Bureau, in 2015, Shanghai's total output value reached 2.49 trillion yuan, with a year-on-year growth of almost 7 percent. Of which, nearly 11 percent of the tertiary industry saw improvements with a total value added output of almost 1.7 trillion yuan, which is about 70 percent of the total output value of the city and a 3 percentage points year-on year increase.

China's 13th Five-year plan aims to revamp economic development, shifting from an export- and investment-dependent economy to one driven by consumption, manufacturing and agricultural production. It will concentrate on creating innovative improvements on science and technology as well as on farming technology. 

Furthermore, it is aiming to form a 'middle class society' that will enhance living standards - especially that of the 70 million poor people in rural areas through developing infrastructures and provision of basic public services. Aside from that, the government will also tackle issues that concern most people such as employment, education, income, health care, social security and other basic necessities.

The fields of information technology and computer technology will also be tackled so as to lift the service industry and boost innovative business models. Ecological and environmental protection projects concerning pollution and environmental degradation will also be laid out. 

Tags13th Five-year plan, Shanghai, infrastructures, Two Sessions, china