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Special> 60th Anniversary of The People's Republic of China> Discovering China> Shanghai
UPDATED: October-30-2009 NO. 19 MAY 14, 2009
Shanghai Steps up

Shanghai-born novelist Lu Shi'e wrote a fantasy novel called New China in 1910. In the book he described a dream where trains were running underground, an iron bridge crossed the Huangpu River and Shanghai hosted a successful World Exposition in then underdeveloped Pudong area. The blueprint described in the novel is set to become real in one year's time and exactly 100 years after its publication.

On May 1, 2010, the World Exposition, with 158 years of history, will draw back its curtain from Shanghai. By May 4, 2009, 237 countries and international organizations had confirmed that they would participate in the event. According to a source at the Organizing Committee of the World Expo 2010 Shanghai, it is expected to attract more than 70 million visitors, making it the most popular expo in history. It is also the first time the World Exposition will be held in a developing country.

Some 600 years ago, Shanghai was just a small fishing village in China's eastern coastal area. It grew into a commercial city thanks to its prosperous port and, over the course of 100 years, Shanghai became among the first Chinese cities to open its doors to the world. Along the way, it became the economic and commercial hub of China.

As a coastal city, Shanghai holds a predominant geographic location, convenient transport and a well-developed service industry. With its many export-oriented features, Shanghai is the first choice for foreign enterprises and institutions doing business in China.

Today, Shanghai enjoys the most prosperous industries on the Chinese mainland. Together, the banking, insurance, real estate and transportation industries play an exceedingly important role in Shanghai's economy.

Lujiazui, nestled in the Pudong New Area, is Shanghai's new financial center. The Shanghai headquarters of the People's Bank of China was opened in August 2005. The world's top 500 enterprises followed suit and set up their regional headquarters, branches or offices in the city. Shanghai's accumulative tax rolls have made up 50 percent of the total tax revenues collected in China over 60 years.

Today, Shanghai is developing into an international metropolis. It is playing an important role in the development of the entire Yangtze River Delta and even in the overall economic and social development of China. It bears the important task of learning from the rest of the world, serving the whole country and connecting the Yangtze River Delta region. This city, which only covers 0.06 percent of China's territory and is home to 1 percent of the country's population, contributes 12.5 percent of the country's fiscal revenue, 10 percent of port throughput and 25 percent of total port import and export volume.

With the approach of the World Expo 2010, Shanghai is making intensive preparations to present to the world China's premier city.

Pan Duo
Yuan Longping
Chen Guangbiao
Chen Zhangliang
Zheng Xiaoying
Song Dafang
Jiang Qingliang
Liu Jinyan
Hu Fei
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