Word: pudong
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Once the deal was done, the factory rose miraculously from a site in the city's Pudong development district--140 acres of marshy paddy field with no roads, electricity or drainage. The first piles were sunk in January 1997, and to everyone's amazement, not least the GM engineers, the first car rolled off the line on Dec. 17, 1998. "The government helped us enormously with infrastructure," says Chen Hong, president of SGM. In 1998 SGM was designated Shanghai's No. 1 economic project--a privileged, pull-out-all-the-stops status that went to the city's new airport...
...office is in Pudong, the glittering new business district created by municipal fiat across the river from downtown Shanghai. More than 100 high-rises have already gone up in the authorities' bid to turn Shanghai into China's financial capital. Companies that make a large enough investment even get a street named after them--Siemens Street, for example. But walking around Pudong is an eerie experience: at least three-quarters of the office space is vacant. Such is the impatience of Shanghai to become a world-class city: Build it, and they will come...
Nearby in the Pudong economic zone, which was swampy farmland only two years ago, modern highways, bridges and office buildings are taking shape. Shanghai will soon emerge as "the national and international financial center," boasts Huang Ju, the city's mayor. It will be "the dragon's head that will pull the body of the Yangtse River valley," home to a third of China's 1.2 billion people, into a new age of prosperity...