Pudong is a financial district in Shanghai that has been developed and built up over the last seventeen years to become China's financial and commercial center. Pudong literally means "East of the Huangpu River" and the Bund is located on the opposing side of the river. Pudont is one of the larger districts of Shanghai and has come to epitomize the modern city.
Pudong was once mostly farmland until development began in 1990. The development was designed to create a new Special Economic Zone in Shanghai where more liberal economic laws are in place to help China catch up to the West and Japan. This is in line with the selective economic liberalization Deng Xiaoping started in the 1980s. Since Shanghai is a directly administered city, at the level of a province, its districts are governed at the level of a prefecture level city. Pudong is governed at the level of a sub-provincial level city.
In 2005, Pudong's GDP was $25.5 billion, a testament to the success of this Special Economic Zone. Pudong has attracted many investors from within China and from around the world. It seems as though Pudong will help ensure a bright future for Shanghai and for China.
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