Shanghai
City introduction
Shanghai is a direct-administered municipality and the most populous urban area in China, situated at the southern estuary of the Yangtze River. As of 2023, its population is approximately 24.87 million within the city proper, while the urban area has around 29.87 million residents. The Greater Shanghai metropolitan area produces nearly 13 trillion RMB ($1.9 trillion) in gross metropolitan product, making it a crucial economic center.
Shanghai is recognized globally for its significance in finance, business, research, science, technology, manufacturing, transportation, tourism, and culture. It hosts the Shanghai Stock Exchange, the largest stock exchange in the Asia-Pacific by market capitalization, and the Shanghai Free-Trade Zone, the first of its kind in mainland China. Classified as an Alpha+ city, Shanghai is home to 13 Fortune Global 500 companies and ranks 4th on the Global Financial Centres Index. The city is also a hub for research and development, featuring renowned universities like Fudan University and Shanghai Jiaotong University.
The Shanghai Metro, inaugurated in 1993, is the world’s largest metro network by route length. Known as the “showpiece” of China’s economy, Shanghai showcases various architectural styles, including Art Deco and shikumen, highlighted by its iconic Lujiazui skyline and historic sites such as the City God Temple, Yu Garden, and the China Pavilion. The Oriental Pearl Tower adds to the city’s skyline, visible from the Bund. Shanghai’s diverse cuisine, local language, and cosmopolitan culture contribute to its status as one of the largest economic hubs in the world, ranking sixth among cities with the most skyscrapers.
Shanghai is a global financial and innovation center, often seen as the “showpiece” of China’s economy. It serves as a national hub for commerce, trade, and transportation, boasting the world’s busiest container port, the Port of Shanghai. By 2018, the Greater Shanghai metropolitan area, including cities like Suzhou and Wuxi, had a gross metropolitan product of nearly 9.1 trillion RMB ($1.33 trillion nominal), surpassing Mexico’s GDP and ranking as the 15th largest globally.
In 2023, Shanghai reported a nominal GDP of CN¥4.72 trillion ($663.87 billion), accounting for 3.54% of China’s GDP, with a per capita GDP of CN¥189,828 ($26,187). The city’s six key industries—retail, finance, IT, real estate, machine manufacturing, and automotive manufacturing—constitute about half of its GDP. Residents enjoyed an average disposable income of CN¥79,610 ($11,836) in 2022, while urban employees earned an average salary of CN¥212,476 ($31,589).
Shanghai is the most expensive city in mainland China and ranks as the 5th wealthiest city globally, with total wealth of $1.8 trillion. It has hosted the China International Import Expo (CIIE) since 2018, the world’s first import-themed national expo. In 2023, the city’s imports and exports reached CN¥7.73 trillion ($1.07 trillion), representing 18.5% of China’s total. Projections suggest that Shanghai’s nominal GDP could reach $1.3 trillion by 2035, positioning it among the top five major cities globally in terms of gross regional product. As of August 2024, Shanghai ranked 4th worldwide and 2nd in China for the number of Fortune Global 500 companies.
City Economy
City industries
City climate
humid subtropical climate
Shanghai has a humid subtropical climate (Köppen: Cfa), with an average annual temperature of 17.5 °C (63.5 °F) downtown. The city experiences four distinct seasons: temperate to cold winters, where temperatures can drop below freezing, and hot, humid summers with average highs exceeding 35 °C (95 °F) on 14.5 days each year. Shanghai sees about 4.7 days of snowfall annually and is susceptible to typhoons during late summer and early autumn. The most pleasant seasons are spring, often rainy and changeable, and autumn, usually sunny and dry. The city receives approximately 1,754 hours of bright sunshine annually, with monthly possible sunshine ranging from 31% in June to 50% in August.