Shanghai Vice Mayor Lu Shan said at the press conference of the State Information Office that Shanghai's initial economy began with the Expo and also grew with the help of the Expo. The 8th CIIE showcased more than 3,400 new products, new technologies, and new services. Shanghai's initial economy was upgraded from version 1.0 to version 4.0. Lu Shan explained that Shanghai has established a “6 days+365 days” year-round exhibition mechanism. Hongqiao Pinhui has brought together more than 120 countries, more than 6,000 brands, and 85,000 products of the same type as the Expo. The 8th edition of Greenland Global Commodity Trade Port has promoted more than 200 overseas brands to launch their first stores in Shanghai. The online “365 Exhibition and Trade Network” allows buyers who are unable to go to the site to connect. More importantly, through the market feedback brought about by the launch of these new products, the confidence of exhibitors to invest in China has been strengthened — we are seeing more and more exhibitors shifting from “participating in 6 days” to “taking root in China and increasing investment”: some have changed from traders to investors to create a “China produces and supplies the world” industry model; some have upgraded from serving the Chinese market to a global R&D regional center, allowing Chinese innovation to feed back the world. From January to August of this year, Shanghai actually used foreign capital of 11.59 billion US dollars, an increase of 6.9% over the previous year; the total number of regional headquarters and foreign-funded R&D centers of multinational companies reached 1,120 and 675, respectively.

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