CS Shanghai covers the Consular District of Jiangsu, Anhui and Zhejiang provinces and the City of Shanghai. The region's GDP was over US$ 197.9 billion in 2008, accounting for roughly 4.5 percent of China's total GDP. The economy of this region, known as East China, is roughly equivalent to that of the Philippines. The GDP of Shanghai alone grew 9.7percent to over the same period in 2007, accounting for over 4.5 percent of China's total output. GDP per capita in Shanghai is over US$ 10,529.
Shanghai is the industrial, financial, and commercial center of China. It hosts a concentration of manufacturing activity in such key industries as automotive, electronics, telecommunications, machinery, textiles, iron and steel, and petrochemicals. Shanghai has a population of some 18.8 million, not including up to three million visitors who are in the city on any given day.
In 2008, exports from Shanghai to other parts of the world were US$ 152 billion, an increase of 10% over 2007, and constituting about 10.6 of China's total. About 44 percent of China's total exports pass through Shanghai's ports. Two-way trade between Shanghai and the U.S. was more than US$ 53.4 billion in 2008, an 8.4% increase over 2007.
Foreign direct investment (FDI) in East China has been increasing steadily for several years. In Shanghai, contracted FDI in 2008 was US$ 17.1 billion, and actual realized investment was US$ 10 billion.
The U.S. is one of the top investors in Shanghai. The U.S. share of Shanghai’s cumulative FDI, at approx. US$ 11.42 billion, is roughly 1/8 of Shanghai's total. There are some 5,500 U.S.-invested projects in Shanghai. The American Chamber of Commerce in Shanghai is the largest in Asia, with over 3,800 members, and some 80 new members per month. Some 11,000 Americans are long-term residents of Shanghai, and many more work on short-term visas. The City of Shanghai has the status of a province and receives preferential treatment from the central government, particularly as an incubator for reforms and pilot projects. Costs tend to be somewhat higher in Shanghai than in nearby cities, but the business environment is generally more transparent.
Sectors to watch in the region are IT, telecommunications services, transportation infrastructure (ports, metro and light rail), distribution services, environmental technologies, construction materials, architectural and engineering services, industrial equipment, machine tools and manufacturing process controls.
U.S. Commercial Service - Shanghai
Shanghai Center, Suite 631
1376 Nanjing West Road
Shanghai 200040, China
Tel: (86-21) 6279-7630
Fax: (86-21) 6279-7639
Email: Shanghai.Office.Box@mail.doc.gov