Vital Statistics (2006)
GDP: RMB1.03 trillion
GDP per Capita: RMB 57,310
Economic Growth Rate: 12%
Population: 10.25 million (urban) - 3.43 million (rural)
FDI: US$7.12 billion
Annual Average Wage: RMB24, 398
Government Effectiveness Rating: 26th
2006 Chinese Cities Competitive Rating: 3rd
Economic Overview |
What more can be said of perennial mainland favorite Shanghai? With a sometimes gritty and rather colorful 700 years of embellished history behind its rise as one of East Asia's international financial centers and mega-metropolises, the city evokes all the feelings of nostalgia and excitement that a market-based economy can. Since China's reform and especially since the 90's when Shanghai implemented the strategy of opening up and developing the Pudong area, the city's economy, social structure, and appearance have all undergone huge changes and the stately Pearl Tower now presides, not just over the Bund and the Huangpu River, but over a vast commercial giant stretching out in every direction. Economic Contribution Ratios by Sector Foreign Trade and Cultural Ties Shanghai will also play host to the 2010 World Expo and is sure to set several new milestones for the event. For instance, it is the first time the Expo will be held in a developing nation. Furthermore, with its rising international prestige and an investment of over US$3 billion, Shanghai has made it a priority to hold the largest Expo in terms of space and visitors in the history of the event. Shanghai enjoys friendly relations, regular cultural and academic exchanges with more than 66 cities in 50 countries world-wide and added Kazakhstan, Bulgaria, Portugal and Sri Lanka in 2005 to its growing list of now 55 countries that have established consulates in Shanghai. |
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