Shanghai is the biggest port in China and it is a center of technique, trade, finance, information and culture. And also it is one of the biggest cities in the world and a famous international port. The Bund has evolved into a center for international finance and trade. China's major economic powerhouse Shanghai reported 540.876 billion yuan of gross domestic product (GDP) in year 2002.
Income tax increased by 41 percent to nearly 6.71 billion yuan in the local fiscal revenue. The city's annual local fiscal expenditure hit 87.78 billion yuan, up 20.9 percent year-on-year.
Industry structure has been optimizing with the secondary and tertiary industries underpinning the economic development. Value-added of the primary industry was 8.82 billion yuan, up three percent year-on-year, value-added of the secondary industry hit nearly 256.47 billion yuan, up 12.1 percent year-on-year and value-added of the tertiary industry topped 275.58 billion yuan, up ten percent year-on-year.
Shanghai is the largest industrial base in China. In China, there are 166 different kinds of industry of which 157 ones are in Shanghai. The output of steels is in the first place of the iron and steel industry in China. Oil and chemistry industries are developing in a high speed, and now it includes more than 20 special fields. Shanghai Oil and Chemistry Factory, which is in Hangzhou bay, can process 8 million tons' chemical raw materials each year and now it becomes the biggest polyester-producing base in China.
The car industry are formed the producing system which can approach the international level. Dazhong Car Co Ltd. can produce 200 thousand Shnaghai--- Santana cars each year. About the family equipment, fridge, washing machine, air-conditioner and video are called the four major ones. The communication equipment and electric station equipment are developing now. Shanghai created satellite communication, optical fibre communication, supercritical fire power generators and some other high technical products.
Shipbuilding, machine, textile, instrument and some other traditional industries are developing in the adjustment. Computer, biomedicine project, micro-electron, laser skills and more high and new technical industries are risen abruptly under the wave of open and reform policy.
Shanghai is the biggest commercial center in China; it emerges its enchanting bearing in the grand and smooth atmosphere.
Pudong is a piece of hoping land. The developing goal is working hard for many years, build Pudong as an extroverted, multi-function and modern area which can possess the leading level of the world. Pudong will establish the base of changing Shanghai into one of the center of international economy, finance and trade and the socialist modern city. A new international airport opened in Pudong (East Shanghai) in 1999.