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The Pudong New Area, with a size of 522.75 square kilometers and a population of 1.809 million by the end of 2004, is a triangular area to the east of the HuangpuRiver and to the west of the Yangtze River estuary. It occupies the central spot of China's coastal line where the Yangtze River pours into the East China Sea. With the developed downtown Shanghai and the vast and rich Yangtze River Delta in its west precincts, the new area has an easy access to economically-developed countries and regions on the Pacific Rim and in Southeast Asia. The development of Pudong started in early 1990s. After more than 10 years, the great efforts in opening up and development have paid off. Today, it's a bright pearl on the mouth of the Yangtze River.
Lujiazhui Financial and Trade Zone facing the Bund across the HuangpuRiver is the city's largest central business district. By the end of 2004, a total of 311 Chinese and foreign financial institutions had started operation in this zone. And the transaction volumes a number of key markets, including Shanghai Stock Exchange, Shanghai Futures Exchange, Shanghai Property Rights Exchange, and Shanghai Real Estate Trade Center have kept growing.
A number of world multinational corporations, such as Siemens, Alcatel, Tomson and Worldbest have relocated their regional headquarters to the district and some of China's largest corporations have also moved their headquarters to Lujiazhui. By the end of 2004, there were1,082 skyscrapers either completed or under construction in the district, with an occupancy rate of 91.7%.
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