Shanghai launched a youth entrepreneurship initiative on July 27 to cultivate about 200 young entrepreneurs to meet the demands of Shanghai's development, Pudong Times reported.

The city will build a total of 100 model youth incubation centers, which are expected to provide young people who harbor entrepreneurial dreams with easier access to innovation forums, sharing sessions, trainings and other resources. The first settled in the Jinshan district of Shanghai earlier this month.

In addition, local youth authorities plan to develop the Shanghai School of Communist Youth League of China into an entrepreneurship training academy, giving young entrepreneurs the knowledge they need to start up a business, according to Xu Weiwan, secretary of the league's Shanghai Committee.

The initiative is one of the highlights of the 13th Five-Year Plan for the Development of Shanghai Youth released by the Shanghai Municipal People's Government on July 27. The plan covers another seven key projects including improving public service for youth sports, and promoting reading among young people.