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During the Spring Festival Chinese traditional costumes
have become very trendy, attributed partly to the recent
Asia Pacific Economic Cooperation meeting in Shanghai.
--2/27/2002
Shanghai is confident that it will make a profit of
more than 9 billion ;yuan ($110 million) if it hosts the
2010 World Expo. --2/27/2002
More and more Shanghainese are choosing to pay for products
and services by credit card rather than cash. The volume
of business via the visa card issued by the Bank of Chian
reached 56 million yuan ($6.76 million) during the holiday
week, up 120 per cent compared on the same period of last
year. --2/27/2002
Between February 9 and 14, Shanghai's 210 leading retailers
rang up sales worth 2.03 billion yuan ($244.5 million)
at their 2,000 outlets, an increase of 12.4 per cent over
the same period last year. --2/27/2002
Shanghai will open up a comprehensive riverfront development
programme to influential overseas developers. The development
programme involves 1,330 hectares of area between Yangpu
Bridge and Nanpu Bridge spanning over the Huangpu river.
--2/27/2002
The China Insurance Regulatory Commission Shanghai office
reported that premiums in the city's insurance industry
jumped 42 per cent last year over 2000 to 18 billion yuan
($2.17 billion). The premiums accounted for 3.64 per cent
of Shanghai's gross domestic product, compared with 2.8
per cent in 2000. --2/27/2002
Shanghai travel agencies are exploring possible joint
ventures with foreign partners following the municipal
government's announcement to open up the market to European,
American and Japanese investors. Foreign companies can
now set up share-holding joint-venture agencies, and sole
ownership will conditions. --2/27/2002
China Eastern Airlines president Ye Yigan said preparations
are underway for China Norhtwest Airlines and Yunnan Airlines
to merge. The new company will buy 30 to 50 Airbus planes
within three years. China Eastern will become one of the
country's three biggest aviation groups approved by the
State Council.--2/7/2002
Shanghai is building a 6-square-kilometre industrial
park in Jiading County mainly for Taiwanese-invested ventures.
The city will launch another Taiwanese industrial park
in Songjiang District before the end of the year. The
two industrial parks are part of the city's plan to boost
the tide of Taiwanese investment.--2/7/2002
Shanghai plans to export $29 billion worth of products
this year. The figure represents a rise of 5 per cent
from 2001. The slowdown of the world's economy dampened
the foreign trade sector in Shanghai last December.--2/7/2002
Foreign students studying in Shanghai now outnumber
local Chinese students studying abroad. A total of 6,300
students from 113 countries are attending 24 local colleges
and universities, majoring in more than 200 subjects including
culture, science, medicine, engineering and arts.--2/7/2002
Shanghai will invest $70 million overseas this year,
according to a local foreign trade official. The city
would be starting up more new businesses in developed
countries and setting up a group of research and development
and design centers focusing on light industrial products,
textiles, machinery and home appliances.--2/7/2002
The city's largest Sino-foreign joint venture tourism
project, Shanghai Ocean Aquarium opens February 7 as a
major entertainment facility for local residents. It has
eight zones, able to display a total of more than 10,000
precious fish.--2/7/2002
Many Shanghai residents are continuing to buck tradition
this year, holding their Chinese New Year's Eve dinner
at restaurants and leaving the city to enjoy travel. Besides
traditional Chinese cuisine, some locals have begun to
introduce novel items for this family reunion dinner,
such as Western food, hot pots and grilled meat.--2/7/2002
Shanghai residents are also eager to depart the city
for various travel destinations this year. The most popular
journeys include trips south to enjoy the warmer climate,
northern excursions for skiing and skating, as well as
trips abroad to experience new cultures.--2/7/2002
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