Page 82 - U4SSC Compendium of survey results on integrated digital solutions for city platforms around the world

8.6 Economic Sustainability

To ensure the construction of a smart city, Shanghai has adopted government investment as the
main financing mechanism. While smart city construction is a long-term process that needs a lot of
financial support, Shanghai encourages private capital to participate in the construction process in
addition to government financing. A number of high-tech companies such as Internet companies
and telecom operators have invested in smart city development.

8.7 Key Factors and Barriers to Implementation

Firstly, the construction of a smart city is a long-term and complex systematic project involving
expertise and participation in a large variety of fields. It is necessary to make a long-term and
comprehensive plan to build up the required cooperation and collaboration mechanisms across
departments and sectors.

Secondly, the construction of a smart city should focus on people’s livelihoods. Awareness of the
people’s actual needs could contribute to smart city construction efficiently, achieve intelligent
operation of the city and bring the benefits of smart city construction to all citizens.

Thirdly, information infrastructure construction is the technical basis for smart city construction.
The development of the network, sensors and other information infrastructure could lay a solid
foundation for the smart city. The information infrastructure should be reviewed regularly and
improved consistently.

One of the main barriers has been data sharing and exchange. However, this problem has
been solved gradually by establishing management mechanisms, building data standards, and
strengthening cybersecurity in Shanghai.

8.8 Stakeholders’ involvement

The involvement of various stakeholders is significant for a smart city. The government should
encourage citizens, experts and firms to make contributions.

Citizens

On the one hand, the Shanghai government understands citizens' needs through survey
questionnaires, and it uses the information to improve smart city planning. On the other hand, the
city organizes activities such as Smart City Experience Week to improve awareness and encourage
the participation of citizens in the smart city.

70 Compendium of survey results on integrated digital solutions for city platforms around the world