MORE than 70,000 enterprises have been set up in Shanghai so far this year, up by 20 percent than the same period last year, Vice Mayor Zhou Bo said on Thursday.

During a phone-in radio program, the deputy mayor discussed with residents how to develop the city as an innovation center with global influence.

"The number of newly setup enterprises can illustrate a city's vigor of innovation," Zhou said. "Last year there were nearly 200,000 enterprises set up in Shanghai, but the number has hit 70,000 so far this year."