In 1990, Shanghai received an official approval and support from the central government to develop Pudong New Area, a new center of economic development. The project had four of Pudong Development Zone, Lujiazui Finance and Trade Zone, Jinqiao Export Processing Zone, Waigaoqiao Free Trade Zone and Zhangjiang Hi-Tech Park. While Pudong boasted a tenfold increase in GDP between 1990 and 1997, only one third of lots were sold, and many projects have been halted or delayed. "Hide
by Michael Enright, Andrew Lee Source: University of Hong Kong, 26 pages. Publication Date: January 1, 1999. Prod. #: HKU097-PDF-ENG
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