Overall Economic Strength

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Since the beginning of the development and opening up of Pudong New Area, local economy has kept growing at a fast speed and in a healthy way, with the economic strength steadily built up.   I n 1990, at an early stage of the development of Pudong, the local GDP was a mere RMB6,024 million. The figure for 2001 was RMB108.2 billion. The average annual GDP growth rate has exceeded 20% since 1990. Pudong experienced two periods of development described aptly as "profound changes every three years". The average annual GDP growth rate between 1992 and 1994 was a phenomenal 26.6% and between 1995 and 1997 it was 20.2%. The GDP in 2001 grew by 16.1% over the previous year.

In 2001, the urbanized part of Pudong reached over100 sq. km.., of which 60 sq. km.. were in the key development zones. A basically complete range of functions in trade and finance will be performed in Lujiazui Finance & Trade Zone where international finance institutions will congregate. A concentration of new- and high- tech businesses will emerge in the Jinqiao Export Processing Zone. The Waigaoqiao Free Trade Zone and the harbor area will perform integrated services to carry the free trade, bonded warehousing, export processing, etc.. The Zhangjiang Hi-Tech Park will become a base for the development of hi-tech industries focusing upon modern bio- pharmaceutics, IT and microelectronics.

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