ShanghaiDaily:Expo center to be built
By Feng Jianmin
Selected from: Shanghai Daily, January,10,2011.
SHANGHAI Municipal Government and China's Ministry of Commerce signed an agreement yesterday to build a new exhibition hub in Hongqiao area as part of the city's plan to become the world's leading international trading center.
The project will take up an area of 1.04 square kilometers, consisting of exhibition halls, logistics facilities and other amenities. Shanghai Expo Group and the government-backed China Foreign Trade Center have agreed to set up a joint venture as the major investor.
The project will cover domestic and overseas trading, imports and exports, and the exchange of goods and services.
"Exhibitions are crucial to trading," said Sha Hailin, deputy secretary-general of Shanghai Municipal Government, "Development of the exhibition industry will significantly contribute to economic growth."
"The actual capability of the city is not fully realized due to limited exhibition areas," Sha said.
He predicted that Shanghai's exhibition industry will grow by 15 to 20 percent in the next few years.
Shanghai's Hongqiao commercial area, covering 26.3 square kilometers in west shanghai, is on the metro line and is home to an international airport and a railway station which were designed to handle 1.1 million to 1.4 million passengers every day, making it an ideal location for an exhibition center.