Shanghai might have missed out on the opportunities brought by China's Internet industry boom in the past decade, but that is set to change.

Online e-commerce platform Pinduoduo and mobile content aggregator Qutoutiao, both headquartered in Shanghai, went public on the New York Stock Exchange in July and September 2018, respectively.

New Internet companies have emerged in Shanghai during the past years.

On the List of Top 100 Chinese Internet Companies in 2018 published by the Ministry of Industry and Information Technology, 21 are from Shanghai, including streaming site Bilibili. These companies specialize in everything from food and clothing to transportation and entertainment, indicating that Shanghai's Internet companies have become models for integrating advanced technologies and big data into urban life.

Shanghai has many advantages it can offer the Internet industry. Statistics show that 70 percent of AI talent is in Beijing and Shanghai. Moreover, as the national financial center, Shanghai offers ample financing channels for entrepreneurs.

Shanghai will continue to provide a world-class business environment in order to serve all types of Internet companies located in the city.

(This is an edited excerpt of an article originally published in Oriental Outlook on January 10)