Shanghai – a commercial centre in China
Shanghai’s importance as a commercial and industrial city dates back to 1842, when the Nanking Treaty was opened to foreign trade. Shanghai has been developed to one of the most intensive harbors worldwide and millions of containers are shipped worldwide every year.
More and more international companies see Shanghai as an important city to try to conquer the Asian market.
The privileged local Chinese people who ruled in the International District and the French Concession, allowed foreigners as well as Chinese to exploit Shanghai’s convenient location and great access to labor. Shanghai has moved from being an industrial city with a lot of cheap labor to be China´s financial district.
Import and export
Almost half of the country’s imports and exports go through Shanghai and it has become one of the world’s leading financial cities. Shanghai’s banks financed China’s government and controlled an estimated 90% of the country’s foreign trade. China´s famous industrialization started in Shanghai and the Communist Party was founded her for many years ago. Shanghai has always been considered as the second largest city for the Chinese government and a lot of domestic investments are done to build this great city.
1949 was the year where the Chinese government took over the Industrial District (including the French Concession), but the city remained a world-class industrical center.
With the establishment of free trade zones, export and high technology underwent Shanghai rapid economic development with over 13% growth in GDP each year between 1992-1996. A restructuring of the industry has been important to develop one of the most famous skylines in the world. A beautiful skyline can be seen while walking one The Bund – giving a view to the Pudong side of the river.
Building activities nearby Huangpu River
The economic development has been accompanied by a fierce building activities, especially in Pudong, but also in the Puxi area, which is about to change the city’s character. At the same time it was built a series of new highways, bridges and ring roads. Shanghai port is developed to become China’s largest, and contains among other things one of the world’s largest container ports.
Hongqiao Airport is replaced by the new international airport in Pudong, opened in 1999, and is now the main airport for Shanghai with approximately 50 mill. passengers pr year (2015).