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People's Daily Online>>China Business

Shanghai builds homes for financial talent

By Li Zhiguo (The Economic Daily)

16:06, December 01, 2011

Edited and Translated by People's Daily Online

On Nov. 29, the state-owned Shanghai Lujiazui Group Company began the construction of the 7-bilion-yuan Bright Future Housing Project, which is specifically designed for financial talent working in the Lujiazui financial district in Shanghai's Pudong New Area.

The Pudong New Area has prioritized building homes for its high-quality financial talent in recent years, and had helped about 50,000 talented individuals solve housing difficulties as of the end of July.

The project is the Shanghai Lujiazui Group Company's second apartment project for talented people. The first one is the Lujiazui Young Talent Apartment Project. The 7-bilion-yuan project will cover a total area of 136,800 square meters, with a total floor area of 362,000 square meters

The number of financial institutions in the Pudong New Area is expected to increase to 900 by 2015 from 649 at the end of the 11th Five-Year Plan period (2006-2010), and Pudong is expected to contribute 50 percent of the total added value of Shanghai's financial services industry by 2015, up from nearly 43 percent in 2010.

In order to achieve the two goals, the Pudong New Are must continue to increase its attractiveness to high-caliber talent in the financial services and other industries. The Bright Future Housing Project is Pudong's latest measure for attracting high-caliber talent.

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