China Fund - Shanghai GDP

	Shanghai's GDP Growth
	Located on the mid-eastern coastline of Mainland China on the banks of the Yangtze River, Shanghai is China's cultural and financial hub. Museums and temples house ancient masterpieces. Over a thousand gourmet restaurants cater to the world's diverse and celebrated palettes. The bustling Pudong financial district nourishes the Chinese economy. More than 16 million people call Shanghai home. The city has achieved double-digit growth each of the last 11 years and is expected to continue the trend well into the future as it outpaces the country's 8 percent growth by 2 to 3 percentage points per year. Investment in the high-tech sector including Internet companies is fueling much of the growth. In 2002 high-tech investment soared 18.7 percent over 2001 and accounted for 23.4 percent of the city's gross industrial output. Per capita GDP is nearly U.S $4,000, the highest in China. By 2007, analysts expect per capita GDP to reach U.S. $7,500 as Shanghai continues to direct the Chinese economy up and down the Yangtze River and in and out of the East China Sea.

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