Shanghai's information industry has developed so fast that it has replaced automobile industry to become the largest sector in the city.
The city's information industry realized 77.9 billion yuan (US$9.39 billion) in industrial output value and profit of 5 billion yuan (US$602 million) over the first nine months this year, up 32 percent and 55 percent respectively compared with those in the same period last year.
Experts predicted that the industrial output value of Shanghai' s information industry will hopefully exceed 100 billion yuan (US$12.05 billion) this year, and the revenue for information service will surpass 20 billion yuan (US$2.41 billion).
Textile bolstered Shanghai's industry for quite a long period since the founding of the People's Republic of China until the automobile industry started to grow rapidly at the beginning of the 1990s.
Information industry in the city has witnessed rapid growth over the past decade, and has now formed a basic framework consisting of software development and production, systematic application, micro-electronics production and information service.
For the following five years, development of integrated circuit, computer, network and digital products will be on the top agenda.