Is Shanghai richer than Hong Kong?

Shanghai is huge, an economic showpiece….Hong Kong vs Shanghai Quick Facts.

	Hong Kong	Shanghai
GDP (2018)	381 billion	$480 billion
GDP per capita	50,700 USD per person. Hong Kong feels like a much wealthier city than Shanghai. Overall, Hong Kongers generally seem more affluent, educated, etc.	About 20,000 USD per person

Is Shanghai the economic center of China?

Shanghai is the financial and commercial core of mainland China, and it is one of the most prosperous and rapidly growing cities in the world. The city has had double digit GDP growth for the last 15 years and it is well on its way to becoming an international shipping centre.

Why is Shanghai a financial center?

“It is being driven first and foremost by the rise of China’s economy and the wealth creation that is derived from that. The Shanghai government has also played a role in its endeavor to grow the city as a financial center. “China overtook Japan as the world’s second-largest economy in 2010.

What is Shanghai’s main source of income?

Industry development Its tertiary industry, or service sector, accounts for around 70 percent of the city’s GDP and is still rapidly growing. Important industries in Shanghai include financial services, wholesale and retail, real estate, transportation, construction, and manufacturing.

How much does Shanghai contribute to China’s economy?

With 23 million inhabitants and a staggering growth in recent years, around 15 \% per year, metropolis Shanghai today contributes nearly a quarter of China’s GDP and is one of the richest cities in country.

Is Shanghai an international financial center?

Shanghai International Finance Center, usually abbreviated as Shanghai IFC, is a commercial building complex and a shopping center (branded Shanghai IFC mall was officially opened to public on 28 April 2010) located at 8 Century Avenue, Lujiazui, Pudong, Shanghai, China.