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Shanghai has so far approved 4,185 Taiwanese-funded
projects with a total investment of $6.6 billion. Some
352 of the projects were approved in the 11 months of
2001, involving $636 million of contractual Taiwanese
investment, up 65 per cent and 270 per cent, respectively,
on a yearly, on a yearly basis. Of the total, 6,000 people
went across the Straits for more than 1,000 programmes
of cultural, scientific and academic exchanges, and the
scope of exchanges was expanded to financial and journalistic
fields.--1/18/2002
A total of 105cars were imported into China through
Shanghai Customs on January 4 and 7, with the daily imports
rising 162.5 per cent above the daily imports last year.
Customs officers predict that a hike in the number of
imported cars is expected because China has drastically
lowered the import duty on cars and no longer levies 100
per cent special customs duty on cars made in Japan.--1/18/2002
Shanghai will build 16 million square meters of new
housing this year, with a total input of 50 billion yuan
($6 billion). Shanghai will also carry out reconstruction
projects on about 1,000 residential buildings, transforming
their flat roofs into sloped tops, according to the sources.
In addition, Shanghai plans to add 390 hectares of green
space in residential quarters this year.--1/18/2002
The city's transportation services are bracing for an
expected surge in the volume of passengers during the
Spring Festival.--1/18/2002
Some male housekeepers in Shanghai are able to command
salaries of 10,000 yuan ($1,210) per month, over nine
times the national average wage.--1/18/2002
Shanghai will spend a record 50 billion yuan ($6 billion)this
year on major construction projects, city officials say.
Major projects in planning include an elevated road, an
underground tunnel across the Huangpu River, a light rail
line, a 98-kilometre ring road and three expressway projects.--1/11/2002
Two Chinese banks will provide loans of up to 5 billion
yuan ($602 million) to fund a magnetic levitated (maglev)
train project in Shanghai. The loans come from the Bank
of China and the Agricultural Bank of China, which have
lent 3 billion yuan ($361 million) and 2 billion yuan
($241 million) respectively to shore up t;he first attempt
to put maglev technology into railway passenger service
in China.--1/11/2002
Shanghai's Pudong Nex District reported an economic
growth of 16.1 per cent in 2001, which is 5.9 per cent
higher than the growth rate of Shanghai as a whole. This
is the 10th consecutive year in which Pudong has reported
a growth rate above 16 per cent.--1/11/2002
According to statistics of the local tax administration,
total individual income tax for Shanghai residents reached
7.8 billion yuan ($940 million) in 2001, up 30 per cent
from the previous year. Each Shanghai resident paid 465
yuan ($56) in income tax on the average, according to
the statistics. The figure was only 760 million yuan ($920,000)
seven years ago.--1/11/2002
The customs bureau of Shanghai earned 58.96 billion
yuan (about $7.1 billion) in tariffs last year, up 21.1
per cent over the same period in 2000.--1/11/2002
Shanghai recorded $4,500 gross domestic product (GDP)
per capita last year, placing it first in the country.
This means that Shanghai has attained the level of a country
with a moderate income, according to the municipal statistics
bureau. The sources said that the service and industrial
sectors are the two major factors behind the city's rapid
economic growth.--1/11/2002
Shanghai port handled a record 220 million tons of cargo
in 2001, up 10 per cent over 2000. It handled 6.3 million
containers last year, ranking fifth in the world. Shanghai
is now the world's third-largest port in terms of over
all capacity.--1/11/2002
A new system introduced by the city government has cut
the average time spent on customs clearance and cargo
handling for airfreight at Shanghai's Waigaoqiao Free
Trade Zone by half, to six hours.--1/11/2002
International retailing giants such as British-based
Tesco and the US-based Wal-Mart are looking forward to
entering the Shanghai market this year. With China's entry
into the World Trade Organization (WTO), Shanghai will
see an increase of foreign capital in the retailing sector
this year.--1/4/2002
Overseas banks take stakes in Shanghai. With China's
entry into the WTO, foreign banks are striving to gain
a better position for the follow-up competition in the
market. This is particularly so in Shanghai, which is
viewed by many multinationals as their first stop in tapping
the nation's 7-trillion-yuan($850 billion) household savings
market.--1/4/2002
Shanghai's Pudong and Hongqiao international airports
reported a new annual record for their joint passenger
throughput of 20.65 million people last year, a rise of
16.7 per cent over the same period in 2000. The figure
is much higher than the average for the world's civil
aviation industry.--1/4/2002
The Shanghai stock market raised 95.749 billion yuan
($11.5 billion)last year, up 4.08 per cent over the year
2000. By the last trading day of 2001, the Shanghai stock
market had a total of 646 listed companies, which had
issued 690 shares worth some 2.76 trillion yuan ($333
billion).--1/4/2002
News from the Fourth Scientific & Technological Exchange
Conference among Overseas Scholars held in Guangzhou said
Shanghai is the hottest destination in eyes of those returning
overseas scholars. Most of them have set their sight on
Shanghai because of the city's sound business environment.--1/4/2002
Statistics show that the number of local citizens who
choose to "recharge themselves" by studying in night schools
has increased by 100,000 people annually over the past
four years. About 98 per cent of the people studying in
night schools are employed. Some have even resigned from
their former posts to engage themselves totally in study.--1/4/2002
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