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Financial Centres of the World: Shanghai
Shanghai is the most highly populated city in China and sits at the mouth of the Yangtze River. The city has had rapid growth for the last two decades and is now a global city, with worldwide impact on finance, fashion, commerce, culture and technology.
The city is considered to be a centre of commerce between the west and the east and is now a multinational hub of business and finance. Shanghai is also a very popular tourist destination and is known for its famous historical landmarks such as the City God Temple, The Bund and the Yuyuan Garden.
Working in Shanghai
Shanghai is the financial and commercial core of mainland China, and it is one of the most prosperous and rapidly growing cities in the world. It is highly attractive to foreign investors due to its cosmopolitan demographics, affluent and sophisticated consumers and highly skilled and educated labour force. The city has had double digit GDP growth for the last 15 years and it is well on its way to becoming an international shipping centre.
The total GDP for the city is $256.3 billion dollars (2010) with a GDP per capital of over $11,540. Three of the largest services industries are retail, real estate and financial services. Manufacturing and agriculture accounts for almost 40% of the city’s output, and due to its location of the Yangtze River Delta, Shanghai is home to the busiest container port in the world.
The city has a solid and thriving financial service industry and many commercial banks, insurance companies, securities companies, trust companies, futures companies and fund management companies have offices in Shanghai. It is also the origin of the Shanghai Stock Exchange, which is ranked third among global stock exchanges. Along with its heavily service orientated economy, the city is also home to a large number of industrial zones including the Technological Development Zone, the Shanghai Hongqiao Zone and the Jinqiao Export Economic Processing Zone.
Living in Shanghai
Shanghai is a vibrant and booming place to live, with a growing economy and a highly developed infrastructure. The city has an extensive transportation network that includes metros, taxis and buses. The metro network in the rapid transit system has 273 stations and is it the longest rail network in the world and the bus system is also the most extensive on earth. Shanghai is also one of the leading air transport gateways in the region with two commercial international airports.
The architecture is a blend between modern aesthetics and traditional buildings and the multi-cultural nature of the city makes it a fantastic choice for migrants.
Shanghai is a very popular tourist destination, due to its vibrant mix of cityscapes, beautiful parks, museums, architecture and history. The Zhongsham Gonyan Park offers a relaxing reprieve from the urbanised jungle and it is also the home of the monument of Chopin.
The city was the birthplace of Chinese theatre and cinema and has strong roots in the arts, including painting, music and the performing arts. Shanghai has a huge range of museums, retail outlets and night life, making it an ideal holiday location.
Here are some useful resources for exploring Shanghai: