Shanghai is the second-largest city in China by population, with 24.3 million people living within its borders at last count from 2019's census results - just behind Beijing which has 26 thousand more residents than Shanghai does.
The busiest container port in the world is located at Yangtze River Delta, China. The leading hotspot for shipping cargo around Asia and beyond has been this area which handles 43 million TEUs annually.
Industries
In 2020, 73.1% of Shanghai’s GDP came from services industries - a statistic which includes financial and professional occupations as well as retail or wholesale trade; real estate development/logistics etcetera
The city's plans for growth involve focusing on developing key players in these three areas: finance with an eye toward attracting more international businesses who can help them expand into other markets abroad (cultural) , while also pushing ahead quickly digital tech.
The economic importance of China's Shanghai can't be overlooked. The city is home to many heavy industries and auto manufacture such as motor vehicles.
In 2018 alone there were 2 million cars produced here and these is just an example among countless others showcasing what makes this metropolis so successful. Plastic smithing and microelectronics come immediately into mind too.
The Shanghai region is going through major industrial restructuring. Many low value-added manufacturing industries have relocated outside of the city, such as textiles and heavy equipment manufacturers which practice the Taiwanese investment model in China's economy.
High-tech & Modern Industry Development
Shanghai is quickly becoming one of the global leaders when it comes to high-tech industries. The city’s largest technology area, electronic computers, and office equipment manufacturing have seen significant growth in recent years with an output value worth over $75 billion dollars. Industry across all six key advanced sectors accounts for 68%. Furthermore, R&D expenditure as well as percent GDP both increased by more than 3% between 2016 & 2020 which indicates that there are lots of bright spots ahead if you're looking into moving your business or doing research here soon.
Foreign Trade
In 2019, China's export market was dominated by a few major countries. The leading sources for imports into this country were Japan and Germany with shipments coming in close second from South Korea as well. Importing goods from these three nations alone made up more than half of all material entering Shanghai to port during that time period
In addition to being an important provider of raw materials like oil products or food grains, SHANGHAI also plays host.
Consumer Market
The largest consumer market in China, Shanghai has been experiencing a steady growth in income levels and tourists. This allows for increased consumption by its residents as well as others across the country who look up to them when it comes to trends such as fashion or lifestyle products.
In recent years, many international brands have chosen to enter the Chinese market through Shanghai. The city's strong distribution power in this region makes it an excellent point of entry for these companies looking into Eastern China or even all of eastern Asia!
Conclusion
MWT Sourcing, your one-stop sourcing solution partner, our employees are from all over the world, including Europe, Hong Kong, and Mainland China. We are happy to be the connecter in the global trading market.
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