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Shanghai's commercial property landlords face pressure to lower rents, help tenants' businesses amid weak consumer sentiment

Owners of commercial properties in Shanghai are under pressure to cut rents to support restaurants and retailers facing the daunting task of sustaining their businesses amid lacklustre consumer demand.

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Mayor confident in Shanghai reaching 5% GDP growth target in 2024

Mayor confident in Shanghai reaching 5% GDP growth target in 2024
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Shanghai failed to meet 5.5% growth target in 2023

Shanghai, mainland China’s economic locomotive, failed to achieve its growth target for 2023 amid slumbering exports, which stayed flat even after the country’s reopening after the Covid-19 pandemic, reports the South China Morning Post. The city’s gross domestic product (GDP) expanded 5% to RMB 4.72 trillion ($664.5 billion) last year as the global economy turned out…

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Shanghai failed to achieve 5.5 per cent economic growth target for 2023 amid 'complex and severe' external environment, mayor says

The city’s GDP expanded 5 per cent last year as the global economy turned out to be weaker than expected, Mayor Gong Zheng told an annual session of the…

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New towns to support city's future development


New towns to support city's future development
  18:47 UTC+8, 2021-01-27    
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Mayor Gong Zheng tells press conference that Shanghai will be accelerating the launch of major infrastructure and economic projects in its five new towns.

Dong Jun / SHINE
Mayor Gong Zheng speaks at a press conference after the closing of the fifth plenary session of the 15th Shanghai People’s Congress on Wednesday.
The development of five new towns will be a “strategic support for Shanghai’s future development,” Shanghai Mayor Gong Zheng said at a press conference after the closing of the fifth plenary session of the 15th Shanghai People’s Congress on Wednesday.

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