Following hard on the heels of the establishment of a free trade zone, the State Council, also known as the cabinet, has handed Shanghai another major mission - pioneering the nation's economic restructuring.

By granting national status to the development plan of the Shanghai Zhangjiang High-tech Industrial Development Zone between 2013 and 2020, Shanghai is now expected to take the lead and set an example for industrial innovation.

Hou Jin, deputy director of the management committee of the zone, reiterated the importance of the mission, saying the Shanghai government is committed to achieving the specific targets set in the plan approved by the State Council on June 2.