Shanghai is the commercial and financial centre of mainland China, as exemplified by Pudong district, a pilot area for integrated economic reforms. Major capital markets in Shanghai include the Shanghai Stock Exchange (SSE), the Shanghai Futures Exchange (SHFE) and the Shanghai Gold Exchange (SGE). It is a clear leader in terms of the quality of its growth – 60.7% of GDP comes from the service sector, while the remaining 39.3% of GDP comes from relatively high end manufacturing of automobiles, electronics, petrochemicals, iron & steel and equipment. Shanghai has the highest average wage and disposable income and the lowest urban to rural income gap in China. GDP was RMB1.68 trillion ($256 billion) in 2010.
Shanghai still lags far behind global financial centers, such as London, New York or Tokyo, in terms of "soft" environment, such as financial innovation and products, the rules of law, free capital flows and human capital. The cost of living in Shanghai has surged, catching up with global peers. The price of floor space in Shanghai has surged, increasing by 57% in 2009, to RMB13,000 per m2. Shanghai still faces numerous challenges, with traffic congestion, affordable housing, pollution control and population .
SAIC Motor Corp Ltd (SHA: 600104) is principally engaged in automobile manufacture and distribution. It posted RMB313.38 billion in revenues and RMB13.73 billion in net profits for 2010.
Baoshan Iron & Steel Co (SHA: 600019) is principally engaged in the manufacture and trading of steel products. It posted RMB202.41 billion in revenues and RMB12.89 billion in net profits for 2010.
Shanghai Bailian Group Co (SHA: 600631) is principally engaged in operation of department stores and supermarkets, office building leasing, as well as provision of tourism and restaurant services. It posted RMB12.84 billion in revenues and RMB614.85 million in net profits for 2010.
Shanghai Electric Group Co (SHA: 601727, HKG:2727) is principally engaged in design, manufacture and distribution of electric power and industrial equipment. It posted RMB63.18 billion in revenues and RMB2.82 billion in net profits for 2010.
Bright Dairy & Food Co (SHA: 600597) is principally engaged in the processing, production and distribution of dairy products. It posted RMB9.57 billion in revenues and RMB194.38 million in net profits for 2010.