Economy
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With the Nanhui District merger in May 2009, Pudong's new gross domestic product amounts to an estimated 370 billion RMB (US$53.98 billion), roughly equal to that of Slovenia. Its GDP per capita is therefore around US$16,938. The area's aggregate GDP has now surpassed that of six provincial-level entities.
The area is divided into four distinct economic districts. Apart from Lujiazui Trade and Finance Zone, there is Waigaoqiao Free Trade Zone, the largest free trade zone in mainland China covering approximately 10 km² in north-east Pudong. The Jinqiao Export Processing Zone is another major industrial area in Pudong covering 19 km². Zhangjiang Hi-tech Park is a special area for technology-oriented businesses, covering 17 km² in central Pudong.
The Pudong area continues to experience rapid development, especially in the commercial sector, with 1.3 million square meters of prime office space reaching completion in 2008, more than the previous two years combined.
Pudong has also attracted considerable fixed asset and real estate investment, reporting 87.268 billion RMB in fixed asset investment and 27.997 billion RMB in real estate investment in 2008.
The newest Disney Theme Park is now under construction in Pudong. It is planned to be operational by 2016.
Bao Steel has its head office in the Bao Steel Tower (simplified Chinese: 宝钢大厦; traditional Chinese: 寶鋼大廈; pinyin: Bǎogāng Dàshà) in Pudong. Comac has its head office in Pudong.
Hang Seng Bank has its mainland offices in the Hang Seng Bank Tower in Pudong. Kroll has an office in the Hang Seng Bank Tower.
Read more about this topic: Pudong
Famous quotes containing the word economy:
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)
“War. Fighting. Men ... every man in the whole realm is in the army.... Every man in uniform ... An economy entirely geared to war ... but there is not much war ... hardly any fighting ... yet every man a soldier from birth till death ... Men ... all men for fighting ... but no war, no wars to fight ... what is it, what does it mean?””
—Doris Lessing (b. 1919)
“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)