With a population of more than 24 million, Shanghai, is a major centre for finance, business and economics, science and technology, and fashion, among other disciplines. It is home to the Port of Shanghai, the world’s busiest container port, and Shanghai Pudong International Airport, one of the world’s 10 busiest airports by passenger traffic.
Shanghai, behind China’s Great Firewall and under capital account controls, is unable to rival Hong Kong as a global financial centre, even though it is embedded deeper within China’s economic machine.
A fatal quarantine bus crash in Guiyang this month triggered an outpouring of anger and grief at the devastating impact of China’s zero-Covid policy. But stamping out the virus is now a political imperative, to be achieved whatever the cost.
As GDP borders on contraction, Beijing will have to maintain confidence and fine-tune its policies without triggering a surge in inflation while facing challenging domestic and global environments.
China is not abandoning its ‘dynamic zero’ strategy, but related policies will be open to more flexible implementation.
Shanghai’s dining scene is bouncing back after the pandemic, with new openings including offshoots of Michelin-star restaurants in Norway and Japan and others serving regional Chinese cuisine.
Deliveries hit a record 940,000 units in November, industry body CPCA estimates, as a strong second half of the year puts EV makers on course to meet an ambitious sales target for 2023 despite a bumpy start.
The hotel has hosted Apple CEO Tim Cook and football star David Beckham, and boasts luxe design by Italian architect Piero Lissoni, from Murano-glass chandeliers to Chinese artworks
Emphasis on tech self-reliance comes weeks after telling Joe Biden measures taken by the US have seriously harmed China’s legitimate interests.
The Chinese President’s itinerary included a futures exchange, technology fair and affordable housing project signalling some of the main items on his agenda.
Politburo holds monthly meeting but makes no mention of when the party’s much-anticipated plenum will take place.
From Art021 and the West Bund Art and Design fair to the China International Import Expo, Shanghai Biennale and many other exhibitions, the Chinese city’s art scene is looking busier than ever in 2023.
Mainland China’s commerce hub is adding a new dimension to its efforts to develop its appeal as an international tourist destination – organising world-class artistic performances to attract opera lovers and musical aficionados.
Developers are offering sweeteners such as delayed down payments, discounts and free parking spaces to home buyers in Shanghai in an attempt to spur demand in the face of slumping sales.
President of integrated circuit design at the China Semiconductor Industry Association says that large swathes of the domestic chip industry would end up in the red this year.
For every five new jobs in artificial intelligence in China, there are only two qualified workers available, a sign of the serious shortage of talent in the hot sector, according to a new report.
Senior officials of eastern Zhejiang province called on Alibaba’s top management, led by new chairman Joe Tsai, to boost investment in frontier tech research and promote innovation in digital technology.
The International Data Economy Industrial Park aims to attract more than 100 leading data companies with a combined output of over 100 billion yuan by 2025.
Rental rates at Shanghai’s hi-tech parks have slipped this year in a slowing economy, but as the city steps up efforts to bolster sectors like semiconductor, artificial intelligence (AI) and biotech, owners of such businesses will generate stable returns for both investors and vendors.
Chinese leadership wants to see the digital economy pick up the slack and drive growth, and regional powerhouses such as Shanghai are poised to take the lead.
The panic has been fuelled by the actions of Nvidia and some of its major partners on the mainland to remove stock of the in-demand graphics card from their online stores.
Mayor Gong Zheng said more landmark deals are in the works as Shanghai tries to burnish its image as an international investment magnet.
The AI industry offers the highest average salary for university graduates in China, followed by blockchain, according to a report by recruitment platform Liepin.
To bolster the confidence of business leaders, Shanghai has announced it will take steps to make work and life easier for companies and employees stationed there.
Homeowners of The One-Rivera Shanghai say the residential complex appears nowhere near completion despite missing two delivery deadlines, raising the prospect of a boycott on mortgage payments that threatens to worsen sentiment in China’s embattled property sector.
The expansion of deepwater terminals at Yangshan islands is getting into full swing, as part of Shanghai’s latest effort to shore up confidence in the city’s foreign trade.
Qualcomm flagged potential job losses in its last quarterly earnings report, citing macroeconomic and demand uncertainty.
The executive says the telecoms giant will embrace an “all intelligence” strategy to transform itself into a key provider of computing power to support China’s AI development.
Yangshan deep water port in Shanghai aims to expand handling capacity of its automated container terminal to reduce vessels’ waiting time and operating costs for ocean carriers amid a trade slowdown in China.
Swire Properties will shell out a total of 9.7 billion yuan (US$1.3 billion) to bid for stakes in two state-owned companies in Shanghai that own two prime sites in the city’s Pudong New Area.
Recognising the severity of the problem, the Politburo pledged in late July to adjust and optimise property policies in a timely manner to engineer a gradual recovery of the industry through 2025.
The expansion is the latest sign that China’s 5 trillion yuan (US$688.2 billion) tourism industry is on the mend after authorities scrapped all the Covid-19 travel and quarantine rules late last year.
The developer of an unfinished residential complex in downtown Shanghai facing a potential mortgage boycott has resumed construction amid pressure from local authorities.