The 2021 Central Economic Work Conference pointed out that China’s economy is facing the triple pressures of shrinking demand，supply shock and weakening expectations. In response，Shanghai fully implemented General Secretary Xi Jinping’s speech delivered during his visit to Shanghai and his instructions for Shanghai’s development，resolutely put into effect the decision and deployment of the Party Central Committee and the State Council，calmly coped with the pandemic and drastic changes rarely seen in a century，and sticked to the new development stage，philosophy and dynamic. At the convergence of the Two Centenary Goals，Shanghai’s national central city construction has achieved remarkable results and laid a good foundation for the start of the 14th Five-Year Plan. At the same time，however，it is also facing the problems of insufficient economic development and constrained domestic demand，and it has yet to be fully established in terms of capacity as an international trade center，sci-tech innovation，and digital transformation. Therefore，Shanghai needs to accelerate the founding of an international consumption，trade，sci-tech innovation and digital center in order to enhance its capacity and core competitiveness，and lay a solid foundation to its high-quality economic development.