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A boon for Shanghai

China Daily | Updated: 2009-05-09 07:42

The central government's decision to launch the Pudong New Area 19 years ago enabled the metropolis to finally switch to a path of supersonic social and economic growth, catching up and outshining earlier stars like the Shenzhen Special Economic Zone.

From a huge plot of mostly farmland, Pudong has emerged as a showcase of the nation's modernization and the reform and opening policy. It also has a magnetic effect on foreign investment and is the locomotive of the city's social and economic progress.

The recent announcement by the State Council to merge Shanghai's Nanhui district with the Pudong New Area is another timely and fresh shot in the arm for a city deeply troubled by the recent economic slowdown. For the first time in 16 years, Shanghai's economic growth rate has fallen below the national average.

A boon for Shanghai

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