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Pudong Development

Issuing Date: 2014-08-06   Author:Editor of site   Source: SHANGHAI BASIC FACTS 2014   Views:

Pudong Today
  The Chinese name of Pudong indicates that it is on the eastern bank of Shanghai`s mother river, the Huangpu River. Before the 1990s, there were vast stretches of farmland and fishing villages in Pudong. China adopted the strategy of developing and opening up Pudong in 1990. Pudong has emerged as an open and multifunctional modern urban district, becoming a window showcasing China`s reform and opening up achievements and a mirror of Shanghai`s modern construction. By the end of 2013, Pudong New Area covered 1,210.41 square kilometers and was home to 2.8379 million permanent residents.

 

Reform and Pilot Policies
Pudong accomplished the third round of a three-year plan in its pilot reform, putting a set of pilot reform measures, such as the market supervision rules, into implementation. In 2013, Pudong introduced 57 financial supervision institutions. 324 companies of share-holding investment and management, 82 financial leasing firms and 121 professional financial service firms. Remarkable achievements were also made in the development of Zhangjiang Hi-Tech Industrial Park. The Pudong government authorized the hi-tech park final approval right in 13 types of administrative issues, totaling 20 items, throughout the year. In 2013, Zhangjiang built new start-up incubation areas totaling 18,000 square meters and 158 new office units. The hi-tech park was also awarded titles of national intellectual property model and national pilot zone of patent development.

 

Economic Development
Pudong New Area has been playing an exemplary and spearheading role in industrial upgrading, service expanding and system reforming. In 2013, Pudong New Area generated an added value totaling 644.868 billion yuan, an increase of 9.7% from a year earlier based on the comparable prices.

 

Investment Magnet
In 2013, a total of 1,032 foreign direct investment projects brought Pudong US$7.389 billion in contracted funds. By the end of 2013, altogether 113,531 domestic enterprises registered in Pudong. The area also had 13,902 overseas-funded companies, of which 845 have registered capital of more than US$10 million each.

 

Multifunctional Development
In 2013, the balance of yuan-denominated deposit accounts at Chinese banks in Pudong New Area amounted to 1.11672 trillion yuan, and their outstanding loans totaled 817.452 billion yuan. Ports in Pudong New Area handled 38.585 million TEUs of containers in 2013, 3.6% more than the previous year. Pudong`s appeal for multinationals to set up headquarters keeps growing. By the end of 2013, 214 multinational corporations had settled their regional headquarters in Pudong.