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Industrial Highlights

Here is some industrial highlights about Shanghai before you start your homestay journey!

Picture of LujiazuiAs one of China’s four municipalities, Shanghai plays a central role in the development of the country’s economy. it is a key trade, financial, shipping and industrial manufacturing center. Shanghai’s Pudong New area is the country’s commercial manufacturing and financial hub. the Lujiazui Finance and trade Zone and the Shanghai Stock Exchange are both located in Pudong. in addition, Pudong is also home to the Waigaoqiao Free trade Zone, Jinqiao Export Processing Zone, and the Zhangjiang hi-tech Park. over the past two decades, Pudong’s GDP has grown an astounding 6700%, with the area becoming a base for 600 international and Chinese business institutions. in 2009, its GDP reached an estimated US$54 billion. During China’s tenth five-year development plan, from 2001 to 2005, Shanghai’s manufacturing industry increased its total output at an average rate of 15.4% a year. at the end of those five years, the industry was contributing to the economic growth of the entire city at an average rate of 53%.

The automobile industry is also booming in the city, maintaining its status as a national leader. Shanghai GM and Shanghai Volkswagen are the country’s two largest auto producers and, together, were projected to produce around one million cars in 2008. in 2009, Shanghai automotive industry Corporation (SaiC) ranked as the country’s third largest automobile form when China finally surpassed the United States as the world’s biggest vehicle market. there are more than 200 pharmaceutical companies based in Shanghai’s Zhangjiang high-tech Park. international brands Pfizer, Novartis, Rohm and Haas, and Bayer have invested not only in production plants, but also in research and development centers in the park and in the Xinghuo economic zone south of Pudong. the Lujiazui Finance and trade Zone is the financial capital of China. By 2008, more than 100 foreign banks had offices in Shanghai, with combined assets of more than US$111 billion. China’s domestic banking industry is largely based in Shanghai as well. the Shanghai Stock Exchange is one of the largest in the world with a market capitalization of US$3.21 trillion in 2009. as one of Asia's centers of foreign trade, Shanghai has one of the world’s busiest ports.

Logistics

West Lake in Hangzhou showing a pagoda.Shanghai is the administrative center of the northern marine district, which is one of China’s two principal marine navigation zones. Yangshan Port is China’s first bonded port, constructed to better accommodate larger ships in the international logistics industry, and to encourage international trading by providing business tax exemptions on international shipping revenue. along with additional tax breaks, Yangshan hopes to attract more shipping lines with tax rebates available upon cargo delivery. Currently, the port is only half-complete with two phases fully operational, and already it is the world’s second largest. When fully completed, Yangshan’s four-phase port will have an annual cargo-handling capacity of fifteen million TEUs (twenty-foot equivalent units). as of 2008, construction of the 33-kilometer Hangzhou Bay Bridge was completed, linking Shanghai to the port city of Ningbo. the bridge has since accomplish its goal, cutting down the transit time between both cities from four to two and a half hours and accelerating the flow of goods.

Although there is a shortage of arable land in Shanghai, the area’s agricultural output is capable of sustaining consumers in the city and suburbs. the region has a history of cooperation between the industrial and agricultural sectors. this has resulted in increased foreign investment in urban agricultural zones such as the Sunqiao Modern Agricultural Zone in Pudong.

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