Shanghai - an aspiring international financial centre
Population: 22.5 million
Shanghai's metro population is the largest in China, described as the 'showpiece' of the booming economy of mainland China. Shanghai is now a national financial centre and aspires to be an international financial centre by 2020. Shanghai ranks 5th in the latest edition of the Global Financial Centres Index.
The rapid economic growth has fuelled a substantial rise in the housing market. A number of government measures, including property taxes, have since been applied to cool the market and these appear to have had an effect last year.
Shanghai, like most other first and 2nd tier cities in China, has announced that it plans to keep annual residential price growth from exceeding annual growth in the municipality's GDP and disposable income. Demand is growing from a cooling sales market and corporate activity, including expats, plus inwards migration and investment.
Shanghai, China - 4 of the Best places to Visit in North East Asia
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