Strengthening Shanghai’s leading ro building a smart cluster of the YRD

The Yangtze River Delta (YRD) region is already one of the key powerhouses of the Chinese economy, as well as one of China’s highly integrated regions. If the region itself was on a countrybased index, the YRD region would rank as the 5th largest economy in the world, behind the US, Japan and Germany. The ACEP Index of the China Development Research Foundation (CDRF) says the YRD region is one of two first-tier regions in China.

According to the Shanghai Master Plan 2017-2035, the blueprint of the city’s development announced in 2018, Shanghai is prioritizing inclusion and people’s wellbeing in its strategic planning in response to emerging development challenges. Nevertheless, similar to other highly integrated regions in China, inadequate natural and socio-economic resources could limit growth and Shanghai’s ability to achieve its long-term goals. As a risk knowledge company, we believe deploying smart technology into the city’s risk management system and promoting innovation by fostering growth in the SME sector are critical to strengthening Shanghai’s resilience and supporting its promising future. opportunities and deal with an increasingly complex risk landscape. We believe the YRD will benefit significantly from technology to build a “smart” region where governance and decisions are made on real-time data acquisition and analysis.

We believe it is beneficial to establish a Big Data research center for the region, which would be tasked with collecting, curating and disseminating the information collected from networked devices such as traffic information from road sensors or traffic lights, as well as river flow sensors or rain monitors. Artificial intelligence and machine learning capabilities could then be used to enable the provincial and city governments across the YRD region to more effectively detect, prevent, and manage existing and emerging risks. For example, Shanghai can connect this data centre with its Citizen Cloud platform to enable fast communication and provide advance warning to its citizens when a risk emerges like road congestion or an approaching thunderstorm that could lead to severe flooding. The Citizen Cloud should also be spread further across the YRD region. center coordinates and leads the response if an adverse event transpires. Essential services need to carry on functioning, and this would help reduce potential losses across the whole region including usage of insurance as an effective risk management tool.

To further enhance the value of a Big Data centre, inter-disciplinary Public Private Research Partnerships (PPRPs) should be initiated. These partnerships would leverage available data and relevant technologies to explore the risks of interconnected systems, produce insights to guide authorities and companies, and suggest effective risk mitigation solutions for building resilient economies and societies.

Small and medium-sized enterprises (SMEs) make up the backbone of China’s economy. The majority of SMEs in the YRD operate in the service sector and are predominantly located in Zhejiang, Jiangsu and Anhui provinces, while Shanghai is home to larger corporations.

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