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Shares are up more than 60% this year, while Amazon has grown its market capitalization by more than 0 billion in 2020 alone. The company is currently valued at more than .5 trillion, with shares trading around ,150 on Monday.

Shanghai's justice authority said it will encourage domestic law firms to cooperate more with firms outside the Chinese mainland to achieve the city's goal of an all-around, multilayered platform by 2020 for legal services in cases involving foreign parties.

Shanghai FTZ will further introduce offshore tax arrangements, turn two of its existing bonded warehouse areas into freeports by 2020, and will enhance its financing service to help Chinese companies enter other overseas markets, according to the latest reform plan released by the State Council in March.

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Shapiro gave the example of Google AI Lab, which opened its first AI research center in Asia in Beijing in December 2017, and Chinese internet search giant Baidu Inc, which joined the Partnership on AI, a US-led group focusing on ethics in AI. Other members include Amazon, Facebook and Google to advance AI research and education.

Shanghai and the provinces of Jiangsu, Zhejiang and Anhui come under the ambit of the Yangtze River Delta region.

Shares of Zulily surged 68 percent this week as a result, giving the five-year-old company a hefty market value of more than billion. It didn’t hurt that?CNBC’s Jim Cramer swooned over the stock, noting that Zulily “can beat Amazon” and calling it a “revolutionary company.”

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Several teapots in Shandong have set up a refining conglomerate recently with a planned registered capital reaching 90 billion yuan (.67 billion). This will combine the country's largest independent oil refineries, known as teapots, and coordinate their production, sales, crude oil imports and investment.

Shanghai will intensify inspections and introduce smart technology to prevent floods and falling hazards during the flood season this year.

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Shanghai fans have placed the most orders for World Cup-related travel, Ctrip said, followed by Beijing and Chengdu. Six of the top 10 cities with the largest number of World Cup game attendees are from second-tier cities, the company said.

Shanghai ranked 3rd in the category of "accessibility", due to the high number of passengers arriving or departing on domestic and international flights serving the city.