Economy
| This section requires expansion. |
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:
“The basis of political economy is non-interference. The only safe rule is found in the self-adjusting meter of demand and supply. Do not legislate. Meddle, and you snap the sinews with your sumptuary laws.”
—Ralph Waldo Emerson (1803–1882)
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)
“It enhances our sense of the grand security and serenity of nature to observe the still undisturbed economy and content of the fishes of this century, their happiness a regular fruit of the summer.”
—Henry David Thoreau (1817–1862)