Find out how to get hired and work in Shanghai
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Working in Shanghai
The city's economic boom is somewhat ironic given its recent past as a hotbed of Maoist ideology. During the 'Cultural Revolution', hundreds of thousands of locals were forcibly removed to work in remote rural areas. Today, however, the city seems to have returned to its roots as a trading port and international commercial and financial hub in East Asia.
Economic development
In the early 20th century, thousands of lǎowài (foreigners) worked in Shanghai's many concessions, extraterritorial areas controlled by colonial powers. Today, Shanghai is the spearhead of China's rapidly growing and expanding economy. Once again, the "Gateway to the World" is attracting large numbers of foreigners who want to advance their careers or immerse themselves in Chinese culture.
In fact, Shanghai's boomtown status is now so strong that its main rival, Hong Kong, began working on an updated image campaign in 2010. Hong Kong wanted to promote its reputation as a financial centre focused on international wealth management and offshore trading. As this example of location branding shows, Hong Kong seems to care enough about Shanghai's development to consider the effort and expense worthwhile.
On the other hand, China's economy grew by only 7.7% in 2012, the lowest rate of expansion in 13 years. In 2013, a free trade zone was established in Shanghai, but it is debatable whether it has had an impact on China's economy.
Shanghai's economy
In 2013, the pharmaceutical, automobile and petrochemical industries experienced significant growth. On the other hand, steel products, electronics and large machinery industries declined. This was due to lower international demand and industrial restructuring, as Shanghai worked to phase out some labour-intensive industries. Founders, investors, managers and employees are increasingly focusing on future growth areas such as financial services and high technology.
The entire Pudong district, where many expatriates now work, was declared a special economic zone in 1993. Both the Lùjiāzuǐ Finance and Trade Zone and the Zhangjiang Hi-Tech Park are located in Pudong - a popular destination for foreigners working in Shanghai.
One aspect of Shanghai's economy has remained a constant throughout the centuries: the port. It became one of China's most important ports under the early Qing Dynasty in the late 1600s. Shanghai is both China's largest comprehensive port and the world's largest container port. The rapid movement of goods and the resulting abundance of trade is another great reason to work in Shanghai.
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