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Specialized Service Industry

Updated: 2014-10-31

As the detrimental effects of the global financial crisis diminished in 2011, service enterprises in Lujiazui operated well and transformed losses into profits for the first time since the crisis. By the end of the year, 566 above-scale service enterprises in Lujiazui Finance and Trade Zone realized operating income of 93.7 billion yuan ($14.9 billion), up 13.1 percent year-on-year. The enterprises realized total profit of 17.38 billion yuan ($2.76 billion), up 68.7 percent year-on-year and employed 84,561 people, an increase of 6 percent year-on-year.

The leasing and business service industry is an asset-intensive industry. During the year, the total assets of 282 enterprises in the leasing and business services industry reached 420.5 billion yuan ($66.85 billion) and accounted for 91.5 percent of total assets in the service industry. Of the 282 enterprises, operating income was 59.93 billion yuan ($9.53 billion) and total profit was 14.22 billion yuan ($2.26 billion). Their operating income accounted for 64 percent of total service industry operating income, and their total profit accounted for 81.8 percent of the total service industry. The 69 enterprises with operating income of more than 100 million yuan ($15.9 million) were mainly engaged in investment, consulting and advertisement.

Information service industry

There were 106 information service enterprises operating in the past year. Total operating income for the year reached 10.33 billion yuan ($1.64 billion), up 13 percent year-on-year. Total profit reached 1.47 billion, up 3 percent year-on-year. Seventy-seven enterprises were profitable and 45 enterprises increased profits from the previous year.

New e-commerce platforms were fiercely competitive this year. Group purchase platforms and other new e-commerce platforms gradually became popular in 2011. The competition among information service enterprises was particularly fierce. The sector also received more attention and investment from venture investors. For example, Rebate Website operated by Shanghai Zhongyan Information Technology received foreign venture investment and increased total operating income in the year by 340 percent compared with last year.

Business process outsourcing (BPO) software has become a new growth point. As enterprises increasingly demand BPO, research and development of BPO software for enterprises has become a new growth point in the information services industry. For example, Dassault Systemes (Shanghai) Information Technology Recently completed a BPO software research and development project. Its total operating income in the year reached 207 million yuan ($32.91 million), up 48.3 percent year-on-year.

Development and operation of online games

Perfect World is one of the largest developers and operators of online games in China. Its early representative works include Perfect World and Legend of Martial Arts. It has recently developed numerous online games, including Forsaken World, The Legendary Swordsman, and The Heaven Sword and Dragon Saber. By the end of the year, total annual operating income of Shanghai Perfect World Software reached 129 million yuan ($20.51 million), up 50.3 percent year-on-year. [

The modern services industry grows More than 20 years after the development and opening-up of Pudong New Area, Lujiazui has become the urban area with the highest density of business buildings in China. Ninety-five business buildings have been built in an area spanning 5.4 square kilometers, with total building area of 7.63 million square meters. The average occupancy rate is 93.3 percent. The area is now home to regional head offices for 38 multinational corporations; head offices of more than 60 large domestic enterprises; more than 100 law firms, accounting firms and other intermediary service institutions; and thousands of investment, consulting and trading institutions.

Cultural creativity industry

The cultural creativity industry is not only an important part of the modern services industry system but also a core component of urban functions. Urban culture is a key component of regional economic and social development. With its unique cultural features, knowledgeable talent and cultural resources, Lujiazui Finance and Trade Zone will actively develop the creativity industry by focusing on entertainment and fashion. It will build a cultural creativity industry park by seizing the opportunities from the World Expo, current theme parks, industrial upgrades and advanced cultural development in Pudong.