Shanghai

Brief Introduction to Shanghai and its Cooperation with the United States

Since 1978, Shanghai has been expanding open-up and deepening reform, walking a new road of megalopolis development. Calculated at permanent resident and then exchange rate, Shanghai’s GDP per capita reached USD 11809 in 2010, the same as in medium-level developed countries in the world. Shanghai has become one of the largest economic centers in China, playing a highly significant role and function in China’s economic and social development. Shanghai contributes 4.2% of GDP, 8.1% of port’s cargo throughput and 12.4% of the total volume of import and export with only 0.06% of China’s land area. And now Shanghai is heading towards the goal of international economic, financial, trade and shipping center, as well as taking the lead in transforming economic development pattern, improving independent innovation ability, boosting reform and open up, and building harmonious socialist society. Shanghai is also shouldering the responsibility of facing the world, serving China, and interacting with “Yangtze River Delta”. 

Economic and trade exchanges between Shanghai and U.S. 

1. American investment in Shanghai: The U.S. is the forth largest source of foreign investment. In 2013, the contracted value of American investment in Shanghai reached USD 890 million£¬ accounting for 7.5% of the total foreign investment in the city. By the end of 2013, American investors had accumulatively invested 7440 projects in Shanghai, accounting for 10.4% of the city’s total, with an aggregate contracted value of USD17.047 billion, accounting for 7.04% of the city’s total. By March 2014, 140 American MNCs have set up regional headquarters in Shanghai.

2. Import and export: In 2013, the trade volume between Shanghai and America was USD 74.72 billion, a 4.7% growth year on year, of which USD 50.65 billion was Shanghai’s exports to the U.S., a 1% increase compared to last year and USD22.75 billion was imports from the U.S., up by 13.6% from last year. The United States is now the largest export destination and 2nd largest source of imports to Shanghai.

3. Shanghai’s investment in the U.S: By the end of 2013, Shanghai investors had accumulatively invested 228 projects in America, with a total contractual value of USD3.029 billion, of which USD1.61 billion was committed by the Chinese side.