Shanghai's Per-Capita GDP to Top US$ 10,000 by 2010

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Last updated at: (Beijing Time) Friday, December 06, 2002

Shanghai's Per-Capita GDP to Top US$ 10,000 by 2010

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After four rounds of intense competition, Shanghai finally won the bid to host World Expo 2010. Following Beijing's Olympic Games 2008 bid, this event meant another special honor and golden opportunity to push ahead the country's cause of development.

If successful bidding for Olympic Games provides spiritual support, the World Expo 2010 is sure to bring about more development driving forces, such as adding distinction to the strategic opportunity period and raising competitiveness of the economic conformity and development goals of the Chinese eastern region. It is predicted that, by the year of 2010, Shanghai will become the first area nationwide with a per-capita GDP of US$ 10,000, while the whole Yangtze River Delta turned into a metropolis circle backed by information technology, coupled with growing contributions to the national development.

Enormous vigor will be injected into the east of China. The three economic rings, Shanghai-Zhejiang within five hours, Shanghai-Anhui within six hours and Shanghai-Jiangxi within eight hours, are being sped up. The effect to spur the economic development of east China, a primary reflection of the Expo's radiate functions, will prove to be more energetic than that of the previous development plans. Estimates suggest that from 2003 to 2010 provinces in this region will all reap a two-digit growth rate, coupled with foreign investment absorption.

As a matter of fact, many foreign investors have been eager to take part since the release of Shanghai's bid for World Expo 2010. Some multinationals, which established investment bases in Shanghai long ago, are preparing in particular for development strategy planning meetings on their involvement in "World Expo Shanghai", with an eye to seeking tangible orders and profits. A strategic opportunity for the whole world to share Shanghai's winning World Expo bid is now coming.

And in 2010, the year for hosting the Expo, admissions to the exhibition halls will total about 70mn. Among them, overseas admissions will exceed 10mn, the first time that the on-the-spot sightseers with an entry visa hit such a scale. At that time, Shanghai will become not only a major tourist center in Asia following Hong Kong and Tokyo but also a veritable international convention and exhibition center as well as a pivotal channel for the Chinese products to the world market. Furthermore, hosting the Expo will promote an all-round uplift of Shanghai's comprehensive competitiveness, with hardware facilities, communication conditions, cargo-transport capability, spiritual states, specialized talents and volunteer rankings adding radiant splendor to the world.

What deserves stress is that the coming two expos in 2005 and 2010, as both are scheduled to take place in Japan and Shanghai respectively, will greatly boost the conformity of development resources of the eastern Asian region. By 2010, not only will China-ASEAN Free Trade Area (CAFTA) have taken shape, but also Renminbi will have been a convertible currency. Under such circumstances, the "three links" across the Taiwan Straits will be highly imperative to be carried out.

By PD Online Staff Zhu Lizhen

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