Shanghai, a municipality directly under the central government of China, is a modern international metropolis with a spirit of inclusivity, pursuit of excellence, open-mindedness, and humility.

Shanghai located at the Yangtze River estuary in East China and facing the Pacific Ocean, forms part of the Yangtze River Delta, which is one of China's most robust, open and innovative regions.

As China's largest economic powerhouse and an important international financial center, Shanghai had a GDP of 5.39 trillion yuan ($741 billion) in 2024, up 5 percent year-on-year.

Shanghai is also a major international trade and consumption center. In 2024, Shanghai's total imports and exports reached a record high of 4.27 trillion yuan, while total retail sales of consumer goods reached 1.794 trillion yuan.

Shanghai is a major global shipping center and an open hub, implementing the RCEP (Regional Comprehensive Economic Partnership) agreement and accelerating the construction of the Waigaoqiao and Hongqiao national import trade promotion and innovation demonstration zones.

Shanghai Port has maintained its position as the world's leading container port for the past 15 years, handling a record 51.506 million twenty-foot equivalent units, or TEUs, in 2024.

The city is also making significant progress toward establishing an international science and technology innovation center. In 2024, the proportion of R&D expenditure to the GDP was approximately 4.4 percent.

Shanghai is evolving into an internationally influential digital city, strengthening the foundational support for urban digital transformation.

It is one of the country's most international cities, with over 1,000 corporate headquarters and 591 foreign-invested R&D centers.

Shanghai is also a world-renowned cultural metropolis and international tourist destination. The Shanghai Museum East is now open to visitors, while the Shanghai Industrial Museum is under construction.

The city's transportation system is becoming more efficient thanks to convenient transfers and smart management. Shanghai has a comprehensive education system, with 69 higher-education institutions by the end of 2024.

Shanghai intends to boost its urban soft power to match its ambition to become a socialist metropolis with global influence. In the future, Shanghai will showcase its character of "International, Innovative and Inclusive", focus on high-quality development, and transform itself into an international economic, financial, trade, shipping, and science and technology innovation center, as well as a global digital city with significant influence.

Updated: Feb 25, 2025

Sources: Shanghai Municipal Government Work Report, thepaper.cn