Fast-growing Comprehensive Economic Capacity
With the stable improvement of the capability of social productivity and the fast growing of comprehensive economic capacity, GDP per capita of Shanghai reached USD4000 in 2000, USD5642 in 2003, based on the population of local citizen and foreign exchange rate of the year.
In 2004, Shanghai continuously kept the good momentum, at the same time
actively carrying out the state macro adjustment of policies and measures. The annual GDP in 2004 was estimated to be RMB744 billions, 13.5% higher than the same period last year, keeping two-digit growth for thirteen years in succession. The social fixed assets investment was RMB308.47 billions, 25.8% higher than the same period last year.
In 2004, the container turnover of Shanghai port was 145.5 million TEU and the cargo turnover of Shanghai Port reached 382 million tons, ahead of Rotterdam Port in Holland, ranking first in the world.
In 2004, the port import and export volume of Shanghai was USD282.57 billion,40.4% higher than the same period last year, which covered one-fourth of the national total. The value of Shanghai foreign trade reached USD 160.02 billion, among which the USD86.5 1 billion was contributed from import and USD73.5 1 billion contributed by export, representing 35.2% and 51.7% separately in growth.
Solid Modern Industrial Base
Shanghai holds a complete industrial system with strongly complete processing capacity. With the view of fastening to upgrade the industrial structure, during the Tenth Five-Year Planning period, Shanghai will focus on the development of 6 pillar, industries with high added value and wide coverage, which includes information, finance, commerce & trade, utomobile, complete sets of equipment and real estate. Shanghai plans to develop these pillar industries into a new start point for improving four new industries, which are bio-pharmaceutical, new material, environment protection and modem logistics, as well as for the further development of petrochemical and steel industries. During the Tenth Five-Year Planning period, Shanghai will pave the way to establishing the biggest industrial base of microelectronics, utomobile, fine steel and petrochemical & fine chemical products in China. For this purpose, Shanghai's industrial investment will reach RMB400 billion to 450 billion, among which the 80% will be poured into the 6 pillar industries.
Complete and Satisfactory Financial Market System
Shanghai's financial industry has been developing soundly in recent years. So far, a fairly complete financial market system has been established, such as security market, inter-bank borrow market, inter-bank bond market, futures market, foreign exchange market, gold market. There are over 3,300 inancial institutes in Shanghai, including a number of foreign invested financial nstitutes, among which 30 foreign invested banks are allowed to handle RMB business. Shanghai will further open its financial market in the coming years.
Sound City & Transportation Infrastructure System
Shanghai boasts a sound city & transportation infrastructure system with sufficient supplies of water, electricity and gas. Because of the hub position for railway, water & air transportation. Shanghai enjoys convenient communications with all parts of the world by regular lines. There are two international airports in Shanghai: Pudong and Hongqiao airport. In the recent years, Shanghai is fastening the construction of developing the city as one of the international center of air harbor, information harbor and shipping center. For further forming a modern and space transportation network, Shanghai has accomplished the construction of magnetic suspension railway.
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