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China - Shanghai
As one of the convention and exhibition centers in the country,
Shanghai has improved its ability to host meetings and exhibits. In 2005, the
city hosted 276 exhibits, including the first Asia Expo of International Brand
Sports Products and Sport Fashion and the 2005 China (Shanghai) International
Children’s Modern Education Consumption Exhibition.
Shanghai used to be an industrial center and have a very solid industry
base. In recent years, the tertiary industry has developed rapidly, with
annual increasing rate at 12% and took up 51% of the GDP of Shanghai in 2002.
Compared with other major foreign investment cities, Shanghai puts its
priorities in industrial and service sectors. Six key industries (IT, motor,
petrochemicals, fine chemicals, complete set of equipment, biopharmaceuticals)
realized 58% of the total industrial output while the four primary sectors in
the tertiary industry (finance and insurance, real estate, transportations, post
and telecommunication, wholesale and retailing) achieved 62% of the total output
in this industry, in which finance occupies 21%, staying first.
The city has further optimized its industrial structure, thus
constantly consolidating the foundation for its economic growth. The ratio of
the city's primary industry, secondary industry and tertiary industry had
changed from 1.8:47.6:50.6 in 2000 to 0.9:48.9:50.2 in 2005.
Non-public ownership grows rapidly, helping to build an ownership structure
where the state, foreign and non-public funds team up to drive forward the
economic growth. In 2005, the proportion of the state-owned sector in the city's
GDP dropped from 59.6% in 2004 to 57.5%, while the figure of the non-public
economic sector rose from 40.4% in 2004 to 42.5%. In the non-public sector, the
proportion of the private ownership in the city’s GDP rose to 16.4% from 15.7%
in the previous year.
In 2005, Shanghai's agricultural sector reported an added value of 7.965
billion yuan, down 6.9% from 2000 according to the comparable prices. The figure
represents an average annual decrease rate of 1.4%. The city's total
agricultural output value reached 23.678 billion yuan in 2005, down 6% over
2000.
During the past decade, the Shanghai’s FDI (Foreign Direct Investment)
rapidly increased with a rate up to 36%, 10% higher than that in China as a
whole. The increase rate in Shanghai has been the top one for many years. In
2002, Shanghai’s FDI accounted for 19.3% of total fixed assets input.
Shanghai Foreign Investment Development Board (FID) was approved by the
Shanghai Municipal Government and established on December 27 1999. As one window
of Shanghai, FID is an official investment promotion agency.
Foreign invested enterprises (Sino-foreign equity joint ventures,
Sino-foreign contractual joint ventures and solely foreign invested enterprises)
and foreign enterprises which have their organizations established in the
Chinese territory and are engaged in production and business are subject to
corporate income tax at a rate of 30% and local income tax at a rate of 3%.
SIEMENS IN SHANGHAI. Over the next two years, Siemens will invest
approximately 70 million euros in building a center for regional headquarters in
Shanghai. The center will be called Siemens Center Shanghai (SCS) and serve the
eastern region of China. The aim is to consolidate all Shanghai-based Siemens
business areas at SCS by the end of 2008.
The cooperation between Siemens and China started as far back as 1872. The
first Siemens order from China was the delivery of pointer telegraphs, marking
the start of modern telecommunication development in China. The rapid expansion
of business relations with China prompted Siemens to establish its first
permanent office in China, in the city of Shanghai, in 1904. This was a major
milestone of the company's engagement in China and marked the start of Siemens'
journey to become the well-liked and respected corporate citizen in China it is
today. After decades of successful cooperation, Siemens founded Siemens Ltd. in
1994. With some 13,000 employees, Siemens Shanghai is the largest location
outside Germany.
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