Shanghai: A global metropolis of innovation and inclusiveness

Shanghai, China's top municipality, stands as a beacon of modernity, internationalism, and inclusiveness. Nestled at the mouth of the Yangtze River and facing the vast Pacific Ocean, Shanghai forms an integral part of the Yangtze River Delta, a region renowned for its economic vitality, openness, and innovative spirit.

A panoramic view of the Lujiazui area in Pudong New Area, Shanghai's financial hub. [Photo/VCG]

As China's economic powerhouse and a pivotal international financial hub, Shanghai's GDP soared to 5.39 trillion yuan ($751 billion) in 2024, a 5-percent year-on-year increase. This thriving metropolis also serves as a major international trade and consumption center, with total imports and exports reaching an unprecedented 4.27 trillion yuan and total retail sales of consumer goods hitting 1.794 trillion yuan in the same year.

Shanghai's status as a global shipping hub is further solidified by Shanghai Port, which has maintained its position as the world's leading container port for the past 15 years. In 2024, the port handled a record 51.506 million twenty-foot equivalent units (TEUs), underscoring its pivotal role in global trade.

Additionally, Shanghai is accelerating its transformation into an international scientific and technological innovation center, with R&D expenditures accounting for approximately 4.4 percent of its GDP in 2024.

In its quest for digital excellence, Shanghai is emerging as an internationally influential digital city, strengthening the digital foundation for its urban transformation. With over 1,000 corporate headquarters and 591 foreign-invested R&D centers, Shanghai stands as one of China's most internationalized cities.

Shanghai is also a cultural metropolis and a popular international tourist destination with many cultural and tourism attractions. Its transportation system is now undergoing a smart transformation, enhancing connectivity and efficiency across the city.

A splendid night view of the Bund. [Photo/IC]

Looking ahead, Shanghai is committed to enhancing its soft urban power to align with its vision of becoming a socialist metropolis with global influence. The city will continue to showcase its "International, Innovative, and Inclusive" character, focusing on high-quality development and transforming itself into an international economic, financial, trade, shipping, and scientific and technological innovation center, as well as a globally influential digital city. With its robust economic growth, vibrant cultural scene, and dynamic urban development, Shanghai is poised to reach even greater heights in the future.