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Under the heavy Western influence, Shanghai soon became China's principal center of trade, finance and manufacturing, with 80 percent of the country°¶s light industry and 25 percent of the heavy industry in the early 20th century. Shanghai became an important industrial center and trading port that attracted not only foreign business people (60,000 by the 1930s), but also Chinese migrating from other parts of the country. By the beginning of the 20th century, Shanghai had become an economic center of the Far East countries, and by that time, the population of Shanghai had increased from 200 thousand to 5 million, and it is considered the first transformation of population of Shanghai. In 1920s and 1930s, it was one of the most cosmopolitan cities in the world.
Shanghai and the surrounding environs all have special economic zones (SEZs) which offer different tax incentives etc. The best way to get this information is to contact your consulate in Shanghai or the Chinese consulate in your home country. The new financial and industrial/manufacturing center of Pudong is also one of the best bets for tax writeoffs and other incentives.