Chen agrees with the principle of the report that China to build a well-off society in an all-round way and create a new situation in building socialism with Chinese characteristics; and that the first 20 years of this century are a period of strategic importance to China, so the country should seize every opportunity to boost its economy.

In the new century, Shanghai will realize a per capita GDP of US$5,000-8,000 and become a center of world trade, finance, economy, shipping and exhibition. By the end of this year, its per capita GDP is expected to hit US$5,000.

Jiang stressed in his report that China should rely on science and technology to invigorate its economy. Under the new circumstances, Shanghai will follow this guidance and develop its economy through science and technology, Chen said.

As the cost of labor and energy is on the rise in the city, many multinational corporations and manufacturers are confronted with great pressure. Some of them plan to move their regional headquarters out of Shanghai, which may cause a negative impact on Shanghai's development. To solve this problem, Shanghai must readjust its industrial structures and use science and technology to create more industrial added value.

Shanghai has a strong background for the development of science and technology. The city homes to many R&D institutions and it is the hometown of more than 100 members with the Chinese Academy of Sciences and the Chinese Academy of Engineering. Over 100 national laboratories and research centers are situated in Shanghai.

In recent years, Shanghai has made great efforts in helping boost the economy in other parts of the country, which, Chen believes, in return, will benefit Shanghai's further development.

During the group discussion, Chen also reviewed the achievements Shanghai has made in the past 13 years since the 4th Plenary Session of 13th CPC Central Committee in 1989.

Thanks to the correct leadership of the Party, he said, Shanghai has witnessed earth-shaking changes in its modernization drive. Local GDP rose to 499 billion yuan in 2001 from 60-odd billion yuan in 1989, with an annual increase rate of 11.3 percent. Shanghai has also upgraded its industrial structures. The fixed assets investment of the city increased by 8.3 times from 21.5 billion yuan in 1989 to 199 billion yuan in 2001. It has also made breakthrough in foreign investment and foreign trade. Shanghai people have begun to lead a relatively well-off life, with increasing income, living space and greenery.

The 16th National Congress of the Communist Party of China (CPC) is a significant meeting in the new century and Jiang Zemin's report on behalf of the 15th CPC Central Committee is a good guidance for building a well-off society and boosting socialist modernization, said Chen.

(china.org.cn by staff reporter Guo Xiaohong, November 10, 2002)