If you are looking to commence your startup in East Asia, Shanghai can indeed match your expectations. The city is full of startups, and entrepreneurs often frequent it. Shanghai is the commercial as well as the financial center of the country. It has a large number of industrial zones such as Export Economic Processing Zone and Technological Development Zone. China’s biggest steel makers such as the Baosteel Group and Fosun Group are based in Shanghai. Besides steel, another important industry in Shanghai is automobile manufacturing. Manufacturers like General Motors and Volkswagen have their plants situated in Shanghai. In addition to that, Shanghai is a major producer of microcomputers, ethylene, mobile phones, and plastics. If you have made your mind to begin your startup, the city can undoubtedly assist you in getting the required financial support.

Growth prospect

When it comes to steel making, Shanghai is even ahead of the United States. In the year 2017, China produced 831 million metric tons of steel, and most of it was made in Shanghai. Shanghai is undeniably the top exporter of steel in the world. The conference and meeting sector is rapidly growing in the city. In addition to that, tourism has also become a major industry.

Furthermore, Shanghai has a strong entrepreneurial atmosphere, and this is reflected by the preferential policies of the government to increase foreign investment in several industries. Various commodities entering the zone are free from duty and customs clearance. Shanghai indeed has plenty of growth potential, and it is the best market for business entrepreneurs as well as startups. If you have your business ideas in mind, you can explore Shanghai and the various opportunities it has to offer so that you can instill life into your dreams.

Startup Opportunities

Shanghai is always buzzing with entrepreneurial activity. In the last few years, the city has seen significant growth in startups. In fact, multitudes of businesses are set up in Shanghai every year. Additionally, it is a renowned hub for startups that attracts a large number of entrepreneurs. Although the startup scene is new and young, but you can definitely expect it to bloom as it is quite promising.

Successfully running a business in Shanghai can generate incredibly high profits since it is the wealthiest city of China. Shanghai has more than thirty unicorn setups whose value equals up to almost $1 billion. In addition to that, according to a recent report, the GDP of Shanghai Pudong has almost reached 1 trillion yuans. The city is home to around 2 million businesses. Most of these enterprises are very competitive companies, and they are quietly expanding.

In order to survive in such robust competition, an enterprise must excel and flourish quickly in order to avoid being left behind. Nonetheless, the city has a foreign friendly culture and a free trade zone which makes it open to a large number of entrepreneurs. Moreover, Shanghai has come up with some forward-looking policies to assist young foreigners in commencing their startup in the country’s financial center.

The city has two international airports which connect to almost all parts of the world and offer the most profitable business hotel reservations and hotel room bookings so as to ensure the rapid expansion and growth of your startup in Shanghai. The main international gateway is Pudong International Airport whereas Shanghai Hongqiao Airport mostly serves the domestic flights.
If you feel motivated and inspired by these astounding statistics and opportunities, you should begin business with Shanghai. RoomsXpert.com can help you plan your travel and provide you with the best corporate travel deals.

Source: https://www.prlog.org/12754131-the-eminent-steel-industry-shanghai.html