Gong said the city will constantly welcome foreign investment, protect the legal rights and interests of foreign invested enterprises and provide better services for them.

One of the measures taken will accelerate the opening-up of regulations and standards in Pudong New Area, a pioneer area for reforms in China.

Tougher stress tests will be conducted in the Lingang Special Area of the China (Shanghai) Pilot Free Trade Zone in Pudong as well, he added.

"Efforts will also be made to build the Hongqiao International Hub into a distribution center for international trade," Gong said.

The plan also includes enhancing the integration of the digital economy and the real economy, reinforcing the digital upgrading of core social sectors such as education, healthcare and civilization, and expanding the application scenarios of digitalization in urban and rural communities.

Gong pointed out that the city is committed to creating a world-class business environment that is backed by high administrative efficiency, standardized government services and a comprehensive legal system for trade and investment.

To achieve this, the city will continue to implement the negative list for market access and abolish regulations and practices that hinder fair competition and the formation of a unified market.

Gong also noted that Shanghai "craves talent now more than ever", and that the city will be enhancing medical services for expats and international educational resources for their children in order to attract high-quality talent.

Deals for 19 projects worth  17.8 billion yuan ($2.78 billion) in investments were signed at the convention. The projects are related to sector such as biomedicine, integrated circuits and artificial intelligence.