Professor Chen Zilei of Shanghai University of International Business and Economics, was invited to speak on “The Current Economic Situation of Shanghai and its Future Prospects” to Keizai Koho Center member corporations.

Prof. Chen explained China’s 14th five-year plan and the long-term goal from 2021. China realized its goal of building a moderately prosperous society by 2020 and the next long-term goal is to build China into a great modern socialist country. Regarding the trend of the Chinese economy, he said that although China was affected by the COVID-19 in 2020, it recovered steadily in 2021 and its GDP is also rising, especially in Shanghai, where the second and third sectors are growing. On the future outlook for the Chinese economy, he pointed out that China will promote the Pudong area of Shanghai as a leading area for the modernization of socialism and economic integration will be accelerated by developing Hongqiao in the Pudong area as a hub for transportation and logistics. He also expected Japanese companies operating in these regions to develop their businesses.