In 1993 the Pudong New District was established and the Management Committee of the Pudong New District was set up. The Lujiazui Financial and Trade Zone belongs to the Pudong New District and was incorporated into the area in 1984.
The Lujiazui Financial and Trade Zone is in the central western part of the Pudong New District and is at the forefront of China’s reform and opening up. It is also the core area for Pudong’s reform and development.
The entire financial and trade zone covers an area of 31.78 square kilometers containing more than 100 buildings and skyscrapers.
As the only national-level development zone named "Finance and Trade" in China, it is also the core functional area of Shanghai’s International Financial Center.
The average ground elevation of the Lujiazui Functional Area is between 3.5 to 3.9 meters. The surrounding area has an average ground elevation of 4 meters.
It has an oceanic climate and, as a result, has four distinct seasons and plenty of sunshine and rainfall. Its average temperature is around 16 degrees Celsius, with a frost-free period of roughly 230 days per year.
The State Administration for Industry and Commerce of the PRC (SAIC) plans to set up a modern enterprise registration system that can better serve the companies in Shanghai.
The Lujiazui Financial and Trade Zone enjoys the following geological advantages.
Complete supporting facilities
Lujiazui has 11 sector markets, including securities, futures, diamonds, oil, financial futures, agriculture, real estate and human resources.
This area is connected to major transportation networks, including the Chongming-Nantong Highway, Hangzhou Bay Bridge and other major highways.
It provides investors with complete commercial services, including consulting, registration, tax registration and policy support.
The added value of the financial industry in Lujiazui Finance and Trade Zone reached 99.16 billion yuan ($15.76 billion) in 2011, up 10.8 percent year-on-year.
Many international high-end commodity and service brands have established their China head offices and Asia-Pacific head offices in Shanghai.
Shipping Service Industry
Shanghai hopes to develop Lujiazui as its core functional area for international shipping. To accomplish this goal, Lujiazui Shipping Center worked extensively to recruit talent in 2011.
The rapid development of the wholesale industry promoted various kinds of social consumption.
Lujiazui became a favorable area for exhibition development during the year. Its main museums provided exhibition areas totaling more than 300,000 square meters.
Specialized Service Industry
As the detrimental effects of the global financial crisis diminished in 2011, service enterprises in Lujiazui operated well and transformed losses into profits for the first time since the crisis.
The Lujiazui Finance and Trade Zone is home to more than 750 licensed financial institutions, about 60% of the city. The zone boasts more than 12 factor markets for securities, futures, diamond, oil and financial futures. About 200,000 of Shanghai's financial professionals work here. There are more than 3,000 emerging financial service institutions, such as private securities, equity investment and financial leasing firms.
Lujiazui is home to 1,128 shipping institutions, among which 911 are shipping service providers.
The area has the most headquarters in China, with 117 regional headquarters in total.
The area provides more than 4,000 professional service staff in law, accounting, auditing and consultation services.