Economy of Shanghai
Economy
Shanghai is often regarded as the center of finance and trade in mainland China. Modern development began with economic reforms in 1992, a decade later than many of the Southern Chinese provinces, but since then Shanghai quickly overtook those provinces and maintained itself role as the business center in mainland China. Shanghai also hosts the largest share market in mainland China.
Shanghai is one of the world’s busiest ports, and became the largest cargo port in the world in 2005. In terms of container traffic, it is the third busiest port in the world, following Singapore and Hong Kong.
Shanghai and Hong Kong have had a recent rivalry over which city is to be the economic center of China. Shanghai is a strong base in manufacturing and technology in mainland China. Shanghai has increased its role in finance, banking, and as a major destination for corporate headquarters, fuelling demand for a highly educated and modernized workforce.
As in many other areas in China, Shanghai is undergoing a building boom. In Shanghai the modern architecture is notable for its unique style, especially in the highest floors, with several top floor restaurants which resemble flying saucers.
The bulk of Shanghai buildings being constructed today are high-rise apartments of various height, color and design. There is now a strong focus by city planners to develop more "green areas" (public parks) among the apartment complexes in order to increase the quality of life for Shanghai’s residents, quite in accordance to the "Better City - Better Life" theme of Shanghai’s Expo 2010.
Historically very Western in lifestyle, Shanghai is increasingly a critical center of communication with the Western world. The Pudong district of Shanghai contains contemporary architecture and "modern"-feeling districts, in close proximity to major international trade and hospitality zones. Visitors to Shanghai find free public parks manicured to startling perfection; in distinct contrast to the massive industrial installations which reveal China’s emerging environmental concerns. Shanghai’s international diversity is perhaps the world’s foremost window into the rich, historic and complex society of today’s China.
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