The financial district of Pudong New Area. [Photo by Gao Erqiang/China Daily]

Over the past five years since being designated a pioneer area for China's socialist modernization, Shanghai's Pudong New Area has demonstrated remarkable progress in economic growth and technological innovation.

Economic and industrial growth

Over the past five years, Pudong's economy has experienced significant growth. In 2024, its GDP amounted to 1.78 trillion yuan ($246 billion), representing a 34 percent increase since 2020. The district's per capita GDP now stands at $43,000, reflecting its robust economic performance. Key industries like integrated circuits, biopharmaceuticals, and artificial intelligence have served as primary drivers of this expansion, with these sectors collectively generating 8,323 billion yuan in 2024.

Pudong's integrated circuit industry alone has experienced substantial growth, generating 2,947 billion yuan and accounting for 75 percent of Shanghai's overall output and 20 percent of the national total.

Reform and innovation

Pudong's successes are fundamentally linked to its focus on reform and innovation. Initiatives such as the Shanghai Data Exchange's international board have boosted the digital economy by facilitating the trade of over 5,500 data products. The "one integrated license" policy has streamlined business procedures, assisting over 19,000 enterprises and making it easier to start new ventures.

Technological advancements

Pudong is strengthening its position as a hub for technology. Advances in quantum computing, biomedicine and the growth of Zhangjiang Science City highlight its commitment to innovation. It now hosts thousands of sci-tech enterprises and research institutions.

The district is also fostering cross-regional collaboration by establishing the first humanoid robot innovation center in China. The new Zhangjiang AI Innovation Town aims to become a world-class center for AI applications.