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A joint report released last month by four prominent Chinese think tanks has shed new light on Shanghai’s commercial potential. Ranking it the best business city in China, the WANB Institute, China Strategic Culture Promotion Association, China Economic Media Association, and YICAI Research Institute analyzed a series of interdependent factors that contribute to Shanghai’s urban business environment index. The result was not a complete surprise since Shanghai has been leading China’s growth for quite some time. But the study does offer an opportunity for China watchers to understand what makes the city’s economy so remarkable. One of the major reasons for Shanghai’s success is the infrastructure index that turned out to be the highest in all of China. The city has established itself as the de facto business capital by modernizing its infrastructure to cater to businesses from across the globe heading to China to benefit from the world’s second-largest economy. A monumental US$21 billion investment last year was spent on mega projects such as the construction of the Yangshan deepwater port, the renovation of the Hongqiao International Airport and the expansion of the metro network. Shanghai is the world’s fifth largest financial hub and is working its way up to becoming the global leader. This January, an action plan was approved by the State Council to make the city […]