Time of opportunities, challenges
By He Wei and Wei Tian in Shanghai | China Daily | Updated: 2013-09-13 07:25
Editor's Note: The Shanghai Free Trade Zone, a pilot project approved by the State Council, is expected to pave the way for China's business hub to become one of the world's leading financial, trade and logistics centers. China Daily will publish a series of stories to keep our readers updated about the policies and development of the free trade zone.
Several decades of carefully planned development have transformed Shanghai from an industrial dinosaur filled with smoke stacks into a modern service powerhouse adorned with gleaming high-rises full of banks, multinational enterprises and large trading houses.
The city has spared no effort in expanding its infrastructure, including a complex highway network, subway system, new railway terminals, two airports and a deep-water sea port. Moreover, it has magnetized talented workers from around the country with an abundance of well-paying jobs in the growing services sector.
This sector now accounts for 61 percent of the city's economic output and provides its major growth impetus.
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