Shanghai, or “Hu” as it is abbreviated in Chinese, is the city in the Delta of Yangtze River and the global population record-breaker with over 24 mln residents. It is one of China’s major business, trade, shipping, and finance centers. It is also the fourth most competitive financial center in Asia, with such giants as Shanghai Stock Exchange. In 2013, the city became the first free trade zone in the mainland part of China and implemented a series of reforms aimed at attracting foreign investment. They were successful and accelerated the giant’s rapid economic development.
Shanghai is divided into 15 administrative districts. For instance, Puxi is the historical center of Shanghai, its commercial and cultural heart. Jing'An is another central district, which is quite popular for commercial and residential property lease as the prices here are not so high as in the CBD.
Entrepreneurship is booming in the city. It hosts about 800 international business events annually, and there are many good hotels for business travelers. The three largest service sectors in Shanghai are retail, real estate, and trade. Moreover, Shanghai has an ambitious aim to become a global shipping leader. Currently, its container port is already the busiest in the world.
Shanghai is also China’s heavy industry locomotive, with Baosteel Group being the leading steel maker in the country. It is also home to SAIC Motor - one of the largest automotive manufacturers in China, which closely cooperates with General Motors and Volkswagen.
Agriculture is another profit-making industry in Shanghai due to its humid subtropical climate. The fertile areas that surround it produce sufficient amounts of food for the city residents and the surplus is even exported abroad. This sector attracts many investors and takes advantage of the latest technologies to grow excellent crops.
Shanghai CBD cannot accommodate all companies that want to rent office space here. The expansion of its borders is under way and is part of the city’s strategic development. There are 3 office areas that will merge with the CBD: Pudong Yanggao Rd, the North Bund, and the Railway Station. They are in close proximity to the business district, and the demand for office space lease is high here. These areas are well connected to CBD due to the extended metro Lines 12 and 13 and are only two or three stops away. Currently, the rent rates are lower here, which attracts multiple tenants. Another reason for the raised demand is that China Financial Futures Exchange and Shanghai Stock Exchange are relocating to Yanggao Road.
In line with the “Outline of Shanghai Master Plan (2016-2040)”, the city government is making considerable efforts to turn Shanghai into one of the global leaders in all spheres. Unsurprisingly, it is ranked as the best city for foreigners in mainland China: over 170 thousand expats live and work here. Numerous multinationals rent offices in Shanghai business centers, many of which boast breath-taking window views: there are 124 skyscrapers in the city.
But it is not only about business: art, fashion, design, and cinema are also on the rise. The main places of interests for culture lovers are the Shanghai Museum, the Art Centre, the Grand Theater, and the Propaganda Poster. In addition, Shanghai is an excellent place for shopping with its many malls and fashion boutiques, especially along Shanghai's two Roads - Nanjing and Huaihai - the most important shopping arteries of the city.