Beginning from the 1990's, Shanghai has been actively exploring a development path with Chinese characteristics, identity of the time and peculiarity of Shanghai.

Its social productivity level and overall economic power have been improving steadily. The city realized a total industrial output value of 2,300 billion yuan in 2007, a rise of 15.7 percent over 2006. The total industrial added value reached 529.59 billion yuan, a rise of 12.3 percent. The city, whose population accounts for a tiny portion of 1 percent and land area 0.06 percent of the national totals, achieved a fiscal income as large as one ninth of that of the whole country. In addition, its total import and export value accounted for one fourth of the national total while cargo throughput for one tenth, earning it a significant position in the economic and social development of the nation.

Shanghai has persisted on scientific advance and informationalization to drive the optimization and upgrade of industrial structure and promote the development of both the second and tertiary industries. Notably, electronics, automotive, petrochemical and fine chemical refined steel, equipment set and bio-pharmaceutics have been six pillar industries with significant roles.

The six priority industrial sectors of iron & steel, automobile, petrochemicals & fine chemicals, electronics, complete sets of equipment and biopharmaceuticals contributed 38.1 percent of the output value of the secondary industry, and large industrial enterprises generated total profits of 132.678 billion yuan, 20 percent higher than that of 2006.

The high-tech industry contributed 560.663 billion yuan in output value, or 26.7 percent, higher than that of 2006. And total input in research and development reached 31 billion yuan, up 20 percent year-on-year.

Shanghai's financial market got further open. Shanghai has also witnessed unprecedented development in the area of foreign trade. In terms of foreign capital absorption, Shanghai also maintained a satisfactory momentum. Shanghai has also enhanced its port functions. Today, Shanghai port has 125 deepwater berths capable of anchoring ships over 10,000 tons and 24 international container docks, and its capacity of container shipping is 11.28 million international standard containers. The port accommodates 500 international sea-lanes reaching 144 cities of 30 countries and regions and has connections with 275 ports in 96 countries and regions. With a multi-functional and multi-tier aviation service network coming into being, the two major airports, i.e., Pudong and Hongqiao accommodated 244,000 aircraft takeoff or landing times, increasing by 6.8 percent over the previous year and helping 24.74 million passenger to transit the customs.

In 2010, Shanghai will host the World Expo to demonstrate the achievements made by mankind in social, economic, cultural and science-technological areas. The theme, Better City, Better Life will make Shanghai a more charming metropolis. With superior environment to start business, profound cultural tradition, ideal infrastructure and numerous business opportunities, Shanghai is attracting more and more investors from all over the world.

(Eastday.com April 14, 2010)