1.Brief Introduction Shanghai Lujiazui Finance and trade Zone is the only development zone at State level entitled with "Finance&Trade" in China. (1)Commercial Building Economy The commercial buildings in Lujiazui have become the economic carrier with the least unit land consumption and the highest output efficiency.The average annual tax avenue to each building exceeds RMB 100 million,which earns each building a reputation of a "standing development zone".At present,there are 130 commercial buildings in the zone with an average occupancy rate of 93%.China Merchants Tower,Securities Tower and Huaneng Union Tower enjoy occupancy rate of 100%. Jinmao Tower which lies opposite the Bund scenic area is the landmark building,which enjoys not only a reputation of the third tallest building in the world and the tallest building in China,but also a special reputation of "Standing Finance Street".This single building becomes the cluster of dozens of domestic and overseas financial institutes such as Dresden Bank,Banca Di Roma,United Overseas Bank,Fotis Bank and Cathay Life Insurance.The high-rising skyscrapers with different features such as Jinmao Tower.Bank of China Tower and HSBC Tower have become not only the landmarks of Pudong after 15 years of opening-up and development but also the carriers of "Building Economy" developed in Lujiazui. With the radiolocation and driving of the Building Economy,the conference & exhibition,tourism,leisure & entertainment and food & catering in Pudong have been developed.Jinmao Tower and Oriental Pearl Tower have become the tallest scenic spots.Lujiazui's commerce is getting prosperous,and Grand Mall,New Shanghai Commerce City have become the preferred choice for leisure and entertainment for white-collars in office buildings.Next Age has taken the place of the famous 1st Department Store at Nanjing Road to become the commercial building with the biggest unit business volume throughout the nation. (2)Cluster of Well-known Financial Institutions There are 165 domestic and overseas financial and insurance institutions at the branch level,40 foreign-funded banks have been permitted to operate Renminbi transactions,24 foreign-funded banks have been determined as major reporting banks for business in China by their head offices.Lujiazui is also the cluster of major exchange markets at both state and municipal level for securities,futures,property rights,talents,oil and real estate,it is also the home of 1800 institutions of professional service such as legal service, accounting, consulting and information service,40 headquarters of multi-national corporations and over 100 large enterprises(groups)outside Shanghai Meanwhile,231 insurance institutions,securities institutions,funds companies,finance corporations,trust companies,car financing companies and other financial institutions such as currency broking companies are also settled at Lujiazui. The world famous bank magnates such as HSBC,Standard Charters,City Bank and Overseas Bank all set up their chief representative office in China at Lujiazui.The newly emerging financial business type such as Automobile financing companies such as Ford and Shanghai GM Automobile Company and fund companies such as Bank of Communication Schroeder Fund Management and HSBC Jintrust all choose Lujiazui for their settlement coincidently. (3)Aiming to build the Build the Brand-new Pudong"City of Finance" Lujiazui is not only the bridgehead for foreign institutes to land in China,but also the jumping board for Chinese enterprises to go to the world.There are a great amount of financial institutions such as banks,insurance companies,securities exchanges and futures markets which are radicalizing its influence towards the whole China.With the acceleration of financial innovation,the Chinese financial institutions are providing more and more financial products expanding their businesses and their source of revenue is also increasing Shanghai Bank is one of the first batches to be approved to operate the transaction of derivative products,and the application for insurance of the first innovative financial product by Orient Securities has been approved officially by SSC.Pudong Development Bank,China Merchants Bank,China Ever Bright Bank and Huaxia Bank are making efforts in developing double currency financial products.The nine pilot measures for the reform of the mode of administration of transnational companies'foreign exchange fund have been introduced in Pudong New Area. The financial innovation in foreign-funded financial institutes is getting updated.After the reform of the exchange rate of RMB.East Asia Bank,City Bank and HSBC offered one after another capital protected investment products linked with package currencies;and after the implementation of reform of relocation of equity shares,Standard Chartered offered financial products linked with Dow Jones Index and Asian Nikkei Index;and after the international oil price increase,ABN AMRO offered capital protected structured deposit linked with oil and gold. On June 21,2005,the State Council approved the pilot comprehensive supporting reform of Pudong New Area,and with the further development of the national reform and opening up,Lujiazui Finance and Trade Zone is making continuous efforts in expanding its space for development,optimizing the development and accelerating financial innovation to welcome further development. 2.Location Advantages Shanghai Lujiazui Finance and Trade Zone is located in the west of Pudong New Area,on the east side of Huangpu River and opposite the Bund Financial Circle forming the "Golden Triangle"with the highest density of domestic and overseas financial institutes. 3.Industries Industries such as financial industry,commercial service industry,conference and exhibition industry,real estate industry,featured tourism and recreational industry have been developed;functional institutions such as headquarters and factors markets have also been cultivated. Key industries include: 1.Financial and relevant service industry 2.Professional service industry 3.Various functional institutions 4.Creation industry 5.Commercial service industry 6.Conference and exhibition service 7.Featured tourism and recreational industry 4.Land lt covers a total area of 31.78 square kilometers with 280 square hectares available for swap which includes plants,ports,simple houses and public apartments.The plants and port area are located along the both sides of Huangpu River which belongs to the development control zone and with the swap of land and the re-construction,there could be the reserved land for further development. 5.Infrastructure World-top supporting urban infrastructure has been established.The current water supply facility in the zone is Pudong Water Plant located on the north of Huayuan Shiqiao Road and east of Lujiazui Ring Road and 2 Yanqiao reservoirs located to the north of Pujian Road and east of Dongfang Road.There are 8 telecommunication sub-bureaux.High and medium-pressure gas pipes have been laid down under the major roads and there are also 4 High and Medium-pressure Stations.The road network has been established in the zone with the planned total length of 185.9 kilometers and a density of 6.0 km/square km. The transportation is very convenient,35 minutes' drive away from Pudong International Airport and 40 min drive away from Hongqiao International Airport According to the planning,there are 7 subway lines running through with a total length of 40.9 km and a density of 1.3km/square km. 6.Contact Lujiazui Functional Zone Administration Committee Tel/Fax:58876888,58876554 Website:www.pudong.gov.cn |
